True Green Bio Energy Ltd disclosed that its promoters, Mrs. Savitridevi V Chiripal and Mr. Vedprakash Devkinandan Chiripal, have been barred from the securities market for four years by the Securities and Exchange Board of India (SEBI). The regulator imposed a monetary penalty of ₹5,00,000 on each promoter as part of a final order dated June 30, 2026, which targeted 226 entities for alleged violations. The company stated that based on its assessment and legal counsel, the order does not have any material financial or operational impact on its business.

SEBI Order Details

The final order was passed by SEBI under Sections 11(1), 11(4), 11(4A), 11B (1), and 11B (2) of the SEBI Act, 1992. The penalties and market restrictions are effective from the date of the final order. The promoters received the order on July 1, 2026.

Company Response

True Green Bio Energy clarified that the order pertains specifically to the promoter and promoter group. The company noted that under Section 15T and 15Z of the SEBI Act, 1992, the promoters reserve the right to appeal the order before the Hon'ble Securities Appellate Tribunal (SAT) and the Hon'ble Supreme Court of India.

true green bio energy has appointed Trusha Shah as an Additional Director designated as a Non-Executive Independent Director effective June 30, 2026. The Board of Directors unanimously approved the appointment based on the recommendation of the Board Nomination and Remuneration Committee. The appointment is for a term of five years, subject to the approval of the shareholders, in accordance with regulatory requirements.

Trusha Shah is a qualified Company Secretary and an Associate Member of the Institute of Company Secretaries of India (ICSI). She holds an M.Com from H.A. College of Commerce and an LL.B from I.M. Nanavati Law College. Her profile indicates extensive experience in compliance for both listed and unlisted companies, with a strong foundation in corporate governance, regulatory adherence, and board-level strategy.

The disclosure confirms that Shah is not related to any of the existing directors of the company. Furthermore, she is not debarred from accessing the capital markets or restrained from holding the position of Director in any listed entity by any order of the Securities and Exchange Board of India (SEBI) or other authorities. The appointment complies with SEBI (LODR) Regulations read with the relevant SEBI Master Circular.

Appointment Details