Arshiya Limited (CIRP) Fails to Maintain Structured Digital Database (SDD)
Arshiya Limited, under CIRP, has failed to maintain a Structured Digital Database (SDD) as required by SEBI (PIT) Regulations for the quarter ended September 30, 2026. The company lacks an SDD, control mechanisms, and has not recorded UPSI events. Remedial steps are strongly recommended.
Failure to comply with SEBI regulations, especially regarding insider trading, can lead to severe penalties and reputational damage, impacting investor confidence.
The company has failed to comply with a crucial regulatory requirement (SDD maintenance) as per SEBI PIT Regulations, indicating a significant governance lapse.
Arshiya Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP), has failed to comply with the SEBI (Prohibition of Insider Trading) Regulations, 2015, concerning the maintenance of a Structured Digital Database (SDD). The company's proprietary, Loveneet Handa of Loveneet Handa & Associates, Company Secretaries, has issued a non-compliance certificate for the quarter and half-year ended September 30, 2026.
The certificate states that the company does not have an SDD in place, lacks control mechanisms for accessing it, and has not captured eight previously disseminated Unabridged Inside Information (UPSI) events in the database. Furthermore, the system has not recorded the nature of UPSI, nor has it maintained an audit trail. The SDD is not tamper-proof and lacks the capability to retain records for the mandated eight years.
The company was required to record one event during the specified period, but due to the absence of an SDD, no events or UPSI were recorded. The company has been strongly advised to immediately implement and maintain a proper SDD system to comply with SEBI (PIT) Regulations 2015.
What to do with a filing like this
Arshiya Limited filed this with the NSE as a statutory disclosure, categorised under sebi compliance filings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Arshiya Limited. Read the original for the full detail.