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SecureKloud: SAT Sets Aside ₹3.83 Cr Recovery Order; Dismisses Promoter Appeals
The Securities Appellate Tribunal (SAT) has issued a mixed ruling for SecureKloud Technologies. While it set aside a SEBI directive for the company to recover ₹3.83 crores from Promoter Suresh Venkatachari, it dismissed the individual appeals of promoters Suresh Venkatachari and R.S. Ramani. The company remains liable for a ₹4 crore penalty levied by SEBI, of which ₹2 crore has already been paid. The case pertains to historical allegations of fictitious revenue booking and financial irregularities between FY 2017-18 and FY 2020-21.
Key Highlights
SAT set aside the direction for SecureKloud to recover ₹3.83 crores from Promoter Suresh Venkatachari.
Appeals by Promoters Suresh Venkatachari and R.S. Ramani against SEBI penalties were dismissed by the Tribunal.
A total penalty of ₹4 crore was levied by SEBI on the company, with ₹2 crore already remitted.
The underlying investigation by SEBI and forensic auditors suggested fictitious revenue booking through promoter-controlled entities.
The SAT order dated March 6, 2026, leaves the remaining portions of the original SEBI order undisturbed.
💼 Action for Investors
Investors should remain cautious as the dismissal of promoter appeals confirms regulatory findings of past financial misconduct. Monitor the company's future compliance and the impact of the remaining ₹2 crore penalty on its financials.
SecureKloud Q3 Revenue Drops 80% YoY to ₹2.16 Cr; ₹127 Cr Write-off for US Subsidiary
SecureKloud Technologies reported a dismal Q3 FY26 with standalone revenue falling 80.5% YoY to ₹2.16 crore. The company posted a net loss of ₹2.03 crore for the quarter, a sharp reversal from the ₹1.54 crore profit in the previous year's corresponding quarter. A major exceptional item of ₹127.20 crore was recorded in the nine-month period ending December 2025, representing a total write-off of investments and receivables from its bankrupt US subsidiary. The board also underwent a governance shuffle with the appointment of two new independent directors and committee reconstitutions.
Key Highlights
Standalone revenue from operations fell to ₹2.16 crore in Q3 FY26 from ₹11.11 crore in Q3 FY25.
Net loss for the quarter stood at ₹2.03 crore against a profit of ₹1.54 crore in the same period last year.
Exceptional loss of ₹127.20 crore recognized in 9M FY26 due to the completion of bankruptcy proceedings of SecureKloud Technologies Inc. (USA).
Appointed Mr. Duraiswamy Basuvaiah and Mrs. Annaganalaur Srimathi Venkata Narayanan as Independent Directors for 5-year terms.
9M FY26 basic Earnings Per Share (EPS) stands at a negative ₹37.52 per share.
💼 Action for Investors
The significant collapse in operational revenue and the massive capital wipeout from the US subsidiary are major red flags. Investors should exercise extreme caution and wait for management to demonstrate a viable path to recovery and new revenue streams.