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SOURCE OF INFORMATION

SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 02-MAR-2026

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

PERSONS: DIRECTED TO PAY JOINTLY AND SEVERALLY PAY TO SETCO AUTO SYSTEMS PVT.LTD. RS.5.98 CRORE INVESTED IN NCCRPS OF TRANSSTADIA TECHNOLOGIES PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF INVESTMENT

S.No. PERSON ENTITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person HARISH KIRITBHAI SHETH

(PAN:AAJPS0670D)  
Click here to view complete history of this specific entity/person SETCO AUTO SYSTEMS PVT.LTD.

PAN:AADCT6512A
Click here to view complete history of this specific entity/person SETCO AUTOMOTIVE LTD.

PAN:AAACG7777K
  		INDULGED IN DIVERSION OF FUNDS/ASSETS TO PROMOTER ENTITIES THROUGH A SCHEME OF MARKETING/ LIAISONING SERVICE COMMISSION VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(B) TO 3(D), 4(1), 4(2)(E), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF SETCO AUTOMOTIVE LTD.

MISREPRESENTED FINANCIAL STATEMENTS VIOLATING 4(2)(F)(I)(2), 4(2)(F)(II)(2), 4(2)(F)(II)(6), 4(2)(F)(II)(7), 4(2)(F)(III)(1), 4(2)(F)(III)(3), 4(2)(F)(III)(5), 4(2)(F)(III)(6), 4(2)(F)(III)(7), 17(8) AND REGULATIONS 4(1), 4(2)(E), 33(1)(A), 33(1)(C), 34(3) AND 48 OF SEBI (LODR) REGULATIONS, 2015 READ WITH SECTION 27 OF SEBI ACT, 1992 IN MATTER OF SETCO AUTOMOTIVE LTD.   		DIRECTED TO ACT IN BONA FIDE MANNER WITHOUT HARMING INTERESTS OF INVESTORS

DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTOMOTIVE LTD. RS.81.96 CRORE INVESTED IN SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 12% P.A. FROM DATE OF INVESTMENT

DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTO SYSTEMS PVT.LTD. RS.107.76 CRORE RECEIVED AS MARKETING COMMISSION BY SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF PAYMENT OF COMMISSION

DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTO SYSTEMS PVT.LTD. RS.13.07 CRORE INVESTED IN NCCRPS OF SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF INVESTMENT

DIRECTED TO PAY JOINTLY AND SEVERALLY PAY TO SETCO AUTO SYSTEMS PVT.LTD. RS.5.98 CRORE INVESTED IN NCCRPS OF TRANSSTADIA TECHNOLOGIES PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF INVESTMENT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 05-FEB-2026 TO 04-FEB-2028

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 05-FEB-2026 TO 04-FEB-2028

IMPOSED PENALTY RS.11,00,000

05-FEB-2026 		 
2
History of entity/person UDIT HARISHKUMAR SHETH

(PAN:ADQPS5292M)  
Click here to view complete history of this specific entity/person SETCO AUTO SYSTEMS PVT.LTD.

PAN:AADCT6512A
Click here to view complete history of this specific entity/person SETCO AUTOMOTIVE LTD.

PAN:AAACG7777K
  		INDULGED IN DIVERSION OF FUNDS/ASSETS TO PROMOTER ENTITIES THROUGH A SCHEME OF MARKETING/ LIAISONING SERVICE COMMISSION VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(B) TO 3(D), 4(1), 4(2)(E), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF SETCO AUTOMOTIVE LTD.

MISREPRESENTED FINANCIAL STATEMENTS VIOLATING 4(2)(F)(I)(2), 4(2)(F)(II)(2), 4(2)(F)(II)(6), 4(2)(F)(II)(7), 4(2)(F)(III)(1), 4(2)(F)(III)(3), 4(2)(F)(III)(5), 4(2)(F)(III)(6), 4(2)(F)(III)(7), 17(8) AND REGULATIONS 4(1), 4(2)(E), 33(1)(A), 33(1)(C), 34(3) AND 48 OF SEBI (LODR) REGULATIONS, 2015 READ WITH SECTION 27 OF SEBI ACT, 1992 IN MATTER OF SETCO AUTOMOTIVE LTD.   		DIRECTED TO ACT IN BONA FIDE MANNER WITHOUT HARMING INTERESTS OF INVESTORS

DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTOMOTIVE LTD. RS.81.96 CRORE INVESTED IN SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 12% P.A. FROM DATE OF INVESTMENT

DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTO SYSTEMS PVT.LTD. RS.107.76 CRORE RECEIVED AS MARKETING COMMISSION BY SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF PAYMENT OF COMMISSION

DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTO SYSTEMS PVT.LTD. RS.13.07 CRORE INVESTED IN NCCRPS OF SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF INVESTMENT

DIRECTED TO PAY JOINTLY AND SEVERALLY PAY TO SETCO AUTO SYSTEMS PVT.LTD. RS.5.98 CRORE INVESTED IN NCCRPS OF TRANSSTADIA TECHNOLOGIES PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF INVESTMENT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 05-FEB-2026 TO 04-FEB-2028

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 05-FEB-2026 TO 04-FEB-2028

IMPOSED PENALTY RS.6,00,000

05-FEB-2026 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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