Praveg Limited , a listed company on the Bombay Stock Exchange (BSE), has received a show cause notice from the Securities and Exchange Board of India (SEBI), India's market regulator. The company disclosed this information in a regulatory filing to the BSE on August 19, 2025, in compliance with SEBI's Listing Obligations and Disclosure Requirements (LODR) regulations.

Details of the Show Cause Notice

The show cause notice, dated August 19, 2025, was issued under Rule 4(1) of the SEBI (Procedure for holding of Inquiry and Imposing Penalties) Rules, 1995, and Rule 4 of the Securities Contracts (Regulation) (Procedure for holding of Inquiry and Imposing Penalties) Rules, 2005.

Alleged Violations

According to the disclosure, SEBI has alleged that Praveg Limited violated provisions of Clause I.A.3(a) of Annexure I to the SEBI Circular No. CFD/DIL3/CIR/2017/21 dated March 10, 2017, read with Regulation 11 of LODR Regulations. The specific details of these alleged violations were not provided in the company's disclosure.

Financial Implications

The company stated in its filing that the financial impact of this regulatory action cannot be quantified at this time. Praveg Limited mentioned that there are no expected financial implications that can be determined as of the date of disclosure, including any potential compensation or penalties.

Company's Response

Mukesh Chaudhary, Company Secretary & Compliance Officer of Praveg Limited, signed the disclosure document. The company has not provided any additional comments or its stance on the allegations in the public filing.

Market Impact

As this regulatory action is still in its early stages, with SEBI issuing a show cause notice, the full impact on Praveg Limited and its operations remains to be seen. Investors and market watchers will likely be monitoring the situation closely for any updates or responses from the company regarding these allegations.

The show cause notice from SEBI is a significant development for Praveg Limited, and the outcome of this regulatory scrutiny could have potential implications for the company's compliance status and market perception. However, until more information is available or the company provides a detailed response to the allegations, the full extent of the impact remains uncertain.

Praveg Limited has announced a significant contract win for event management services, showcasing the company's growing presence in the event management sector. The company has been awarded a contract to organize the World Lion Day 2025 celebration, featuring the Chief Minister of Gujarat.

Contract Details

The Deputy Conservator of Forest, Porbandar Forest Division, has issued a Letter of Award (LoA) to Praveg Limited for the event management of the upcoming World Lion Day 2025 celebration. The event is scheduled to take place on August 10, 2025, at Timdi, Taluka Bhanvad, District Devbhumi Dwarka, Gujarat.

Financial Implications

The contract value for this prestigious event is set at ₹3.99 crore. This one-time event management assignment has been awarded by the Forest Department, Government of Gujarat, highlighting the trust placed in Praveg Limited's capabilities.

Event Significance

World Lion Day is an annual celebration aimed at raising awareness about the conservation of lions and their habitats. The involvement of the Chief Minister of Gujarat in the event underscores its importance, particularly given that Gujarat is home to the Asiatic lion population in the Gir Forest.

Company Disclosure

In compliance with regulatory requirements, Praveg Limited has promptly disclosed the contract details to the BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's transparency in sharing this information demonstrates its commitment to good corporate governance practices.

Conclusion

This contract win represents a significant opportunity for Praveg Limited to showcase its event management expertise on a high-profile platform. The successful execution of this event could potentially lead to more such contracts in the future, contributing to the company's growth in the event management sector.