What happened: SEBI alleged round-tripping in Dhenu Buildcon Infra Ltd’s transactions
SEBI alleged that Dhenu Buildcon Infra Ltd (DBIL) engaged in round-tripping of funds.
SEBI’s allegations describe a sequence in which DBIL created a large unsecured loan through multiple transactions within a short time window, followed by partial conversion of that loan into equity through preferential allotment.
SEBI alleged the following transaction details and outcomes:
• SEBI alleged that DBIL created a ₹1,000 crore unsecured loan using 46 transactions over eight days.
• SEBI alleged that DBIL partially converted the unsecured loan into equity through preferential allotment (issue of shares to selected investors).
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