# Sebi bars Kore Digital promoters over Rs 541 crore revenue fraud

2026-09-17T19:42:50+00:00 | Governance | Indian Opinion Desk

Corroboration: 4 independent outlets

Sebi has barred Kore Digital and three top executives from raising public funds and dealing in its shares after finding prima facie evidence of a Rs 541.3 crore revenue misstatement. The regulator's interim order, issued on September 17, blocks the company's migration from NSE's SME platform to the main board and orders a forensic audit of its books from its June 2023 listing to March 2026. Sebi said three subsidiaries acquired in late 2024 accounted for about 75% of Kore's reported revenue but site visits found no evidence they existed at their stated addresses. The regulator also flagged forged audit reports and alleged that proceeds from a March 2024 preferential issue were diverted to entities it called non-genuine. Managing director Ravindra Doshi, CEO Chaitanya Doshi and CFO Kashmira Doshi have 21 days to file responses.

## Indian Opinion Analysis

All four sources report the same Sebi order forbidding Kore Digital from raising public funds and blocking its main-board migration. Every outlet leads with the Rs 541 crore revenue misstatement allegation and names the three banned executives. The coverage is uniform straight reporting: no outlet adopts a government-critical or pro-government slant, and none sensationalises. The story is a procedural regulatory action with no political dimension. What to watch: Kore's 21-day window to respond to Sebi, after which the regulator will decide on further restrictions and the forensic audit findings will emerge.

## Coverage

- economictimes.indiatimes.com (neutral report) <https://economictimes.indiatimes.com/markets/stocks/news/sebi-bars-kore-digital-promoters-over-alleged-rs-541-crore-revenue-misstatement/articleshow/134316145.cms>
  Straight factual report of Sebi order, no slant
- thehindubusinessline.com (neutral report) <https://www.thehindubusinessline.com/markets/sebi-bars-kore-digital-from-fundraising-alleges-financial-manipulation/article71477583.ece>
  Brief factual summary, no editorialising
- livemint.com (neutral report) <https://www.livemint.com/companies/news/sebi-bars-kore-digital-three-top-execs-from-capital-markets-over-alleged-fraud-11789653081860.html>
  Detailed factual report with Sebi allegations listed, no slant
- telecom.economictimes.indiatimes.com (neutral report) <https://telecom.economictimes.indiatimes.com/news/industry/india-markets-regulator-bars-kore-digital-from-fundraising-alleges-financial-manipulation/134323491>
  Reuters wire copy, straight factual reporting

Tags: Kore Digital, NSE, Ravindra Doshi, SEBI
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