Kidnapping of promoter's son, ransom and Rs 200-crore wipeout! SEBI unmasks Seacoast Shippings’ ultimate shock twist
- Posted on September 26, 2025
- By Business News Today
- 5 Views
Kidnapping of promoter's son, ransom and Rs 200-crore wipeout! SEBI unmasks Seacoast Shippings’ ultimate shock twist
Seacoast Shipping misused Rs 48 crore rights issue funds to pay ransom, while fabricating revenues and assets to mislead investors. SEBIs probe revealed fake trades, sham governance, and massive equity dilution. Shares crashed to Rs 1.48, erasing Rs 200 crore. SEBI banned directors and ordered restitution.
