Details:
Rashi Peripherals Limited, a prominent Indian IT and hardware distribution firm, has disclosed a legal development under Regulation 30 of SEBI Listing Regulations. A chargesheet has been filed under Sections 420 and 34 of the Indian Penal Code against the company and certain directors, including independent directors, by a customer named Mr. Hitesh Mehta, proprietor of Vinayak Infosolutions. The matter has been taken up by the Hon’ble Metropolitan Magistrate, 18th Court, Mumbai. The company asserts that the allegations are baseless, frivolous, and without merit. Rashi Peripherals has received the certified copy of the chargesheet as of April 30, 2025, and is proactively taking legal measures to defend its position.
Despite this development, the company has reassured shareholders that there will be no material impact on its financials or operations. Legal counsel has evaluated the situation and anticipates no significant consequence to the company’s standing or reputation. Interestingly, Rashi Peripherals has also filed a counter-case against the customer under Section 138 of the Negotiable Instruments Act for recovery of ₹1.38 crore. The company has confirmed that this amount is not material under SEBI guidelines. Investors are advised to monitor the proceedings for further updates, though current indicators point toward limited impact on business performance.
🔸 Key Points
🔹 Company Involved: Rashi Peripherals Limited (formerly Rashi Peripherals Pvt. Ltd.)
📅 Date of Disclosure: May 1, 2025
⚖️ Legal Case:
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Filed by: Mr. Hitesh Mehta (Vinayak Infosolutions)
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Against: Company and some Directors
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Authority: Hon’ble Metropolitan Magistrate, 18th Court, Mumbai
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Sections: 420 & 34 of IPC (Cheating and common intention)
🧾 Company’s Position:
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Strong denial of allegations
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Deemed baseless and frivolous
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Legal recourse initiated
📈 Market Impact:
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No material effect on finances or operations
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Business continues unaffected
🔁 Counter Action:
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Filed by Rashi Peripherals
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Under Section 138 of Negotiable Instruments Act
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Against customer for ₹1.38 crore due
🧑💼 Management Quote:
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“Committed to defend the company’s reputation”
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“Exploring all legal remedies”
📉 Effect on Share Market
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Short-term sentiment may turn cautious due to legal news.
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Stock volatility could rise briefly but fundamentals remain unaffected.
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Institutional investors may wait for more clarity, but retail may overreact.
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Price dips, if any, could offer buying opportunities based on strong fundamentals.
🏢 About Rashi Peripherals Limited
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Incorporated: 1989
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Headquarters: Mumbai, Maharashtra
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Core Business: Distribution of IT products, hardware, networking, and consumer electronics
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Website: www.rptechindia.com
📊 Key Market Data
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BSE Code: 544119
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NSE Symbol: RPTECH
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CIN: L30007MH1989PLC051039
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Legal Event Disclosure Date: May 1, 2025
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Face Value: ₹5 per share
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IPO Year: 2024
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Business Network: 50+ branches across India
👥 How This Helps Retail Traders
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Transparency builds trust in listed firms.
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Legal disclosures help traders assess risk exposure.
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Allows informed decisions on entry/exit strategy.
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Opportunity to buy on dips if one believes in long-term fundamentals.
💬 Chat Demo:
User: Wants detailed coverage of a Regulation 30 SE disclosure for Rashi Peripherals, including market impact, company info, and styled WordPress post.
Ex.: Provided styled report with paragraph + bullet content, market reaction, trader tips, metadata, and engagement elements.
🗂 Suggested Categories (Alphabetical)
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📣 Phrase for User Engagement
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📉 Stock Market Disclaimer
Disclaimer: This post is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy/sell any stock or share. Investing in the stock market involves risk. Past performance is not indicative of future results. Always conduct your own research or consult a licensed financial advisor before making investment decisions.
