According to SEBI’s adjudication order, this action is the outcome of a multi-year investigation spanning FY17 through FY20.
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HEMANSHI KAMANI
The Securities and Exchange Board of India (SEBI) on Wednesday levied aggregate monetary penalties of ₹1.35 crore on Oriental Trimex, its promoters, and other associated parties for alleged large-scale misstatement and manipulation of the company’s financial statements.
According to SEBI’s adjudication order, this action is the outcome of a multi-year investigation spanning FY17 through FY 20.
The investigation revealed that a major portion of reported sales and purchases was inflated through transactions with 22 entities that were non-existent, not traceable at their registered addresses, or not engaged in the company’s core marble business.
These 22 entities represented a significant share of the company’s disclosed turnover, contributing between approximately 80 per cent and 90 per cent of total revenue and purchases in certain financial years. This concentration raised serious doubts about the reliability and authenticity of Oriental Trimex’s financial statements, the SEBI order said.
The entities involved are Rajesh Kumar Punia, MD; Savita Punia, Whole-time Director; Om Prakash Sharma, Mirage Marble Private Ltd, Nirmal Marble Ltd; Abhishek Jain, Vivek Seth and Jitendra Surendra Gupta.
SEBI found that Oriental Trimex artificially boosted its reported revenue and raw material expenses by entering into transactions with 22 entities that were either non-existent, struck off from statutory records, untraceable at their registered addresses, or not involved in the marble trade—the company’s primary line of business.
The stock of Orient Trimex on Wednesday closed at ₹7.12 on the NSE, up 0.71 per cent.
Published on February 18, 2026
