Sebi has passed an interim order in the matter of Dhenu Buildcon Infra after finding that the company’s market cap rose from about Rs 3 crore to Rs 4,925 crore during the examination period, even as its business remained small and its revenues were almost negligible.
The regulator said Dhenu Buildcon, a BSE-listed company earlier known as The Hingir Rampur Coal Company Ltd, allegedly received Rs 1,000 crore as unsecured loans from seven entities in just eight days between December 24 and December 2024.
