SEBI has issued a corrigendum dated April 13, 2026 (reference: QJA/SS/CFID/CFID-TPD/32338/2026-27) to its earlier order dated February 05, 2026 (reference: QJA/SS/CFID/CFID-SEC2/32034/2025-26) in the matter of Setco Automotive Limited. The corrigendum was prompted by a representation from Noticee No. 1 (Setco Automotive Limited) and Noticee No. 2 (Setco Auto Systems Private Limited) dated April 03, 2026, requesting correction of typographical errors in the original order.

Key Points

• The corrigendum corrects the directions at para 118(c) of the February 05, 2026 order.
• Noticees No. 3 and 4 are directed to pay, jointly and severally, the following amounts to Noticees No. 1 and 2:
  • To Noticee No. 1 (Setco Automotive Limited): Rs. 81.96 crore invested in SEPL, with interest at 23% p.a. from the dates of investment.
  • To Noticee No. 2 (Setco Auto Systems Private Limited): Rs. 107.76 crore received as marketing commission by SEPL with interest at 23% p.a.; Rs. 13.07 crore invested in NCCRPS of SEPL with interest at 23% p.a.; and Rs. 5.98 crore advanced to TTPL at 23% p.a. from the dates of advance.
• If any amount or interest has already been repaid, upon provision of proof of payment, such amounts and corresponding interest shall be deducted from the total payment calculation.
• The original order dated February 05, 2026 shall always be read in conjunction with this corrigendum.

Regulatory Changes

No new regulatory changes are introduced. This corrigendum solely corrects typographical errors in Table No. 8 (para 118(c)) of the original quasi-judicial order. The substantive directions and legal findings of the February 05, 2026 order remain unchanged.

Compliance Requirements

• Noticees No. 3 and 4 must comply with the corrected payment directions at para 118(c) as clarified in this corrigendum.
• Any payments already made must be documented with proof for deduction from the outstanding liability.
• The original order and this corrigendum must be read together for full compliance.

Important Dates

• February 05, 2026: Original SEBI order issued (QJA/SS/CFID/CFID-SEC2/32034/2025-26).
• April 03, 2026: Representation by Noticees No. 1 and 2 seeking correction of typographical errors.
• April 13, 2026: Corrigendum issued by Quasi-judicial Authority Santosh Shukla, SEBI, Mumbai.

Impact Assessment

The corrigendum clarifies substantial financial obligations — totalling over Rs. 208 crore in principal amounts — borne jointly and severally by Noticees No. 3 and 4, with a high interest rate of 23% p.a. The correction of typographical errors ensures that the payment directions are precise and enforceable. The direct market impact is limited to the parties involved in the Setco Automotive matter; however, investors in Setco Automotive Limited (NSE/BSE listed) should note the ongoing regulatory proceedings and the financial liabilities established under the original order as clarified.