Securities and Exchange Board of India (Sebi) has directed the exchanges to stop trading in 331 entities suspected to be shell companies.
In an interview to CNBC-TV18, Arup Thakur, CFO of Pincon Spirit spoke at length about this order.
Sebi order is surprising for us. We are taking up the matter with the regulator, he said.
He further said that Pincon Spirit is not linked with any shell companies.
We are ready to provide clarifications to Sebi's satisfaction, said Thakur.
He further added that Pincon has initiated resolution process and should hear from authorities soon.
Pincon Spirit do not have any pending litigation/notices currently, he added.
Watch accompanying video for more details.
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