I got out of Edvenswa Enterprises Ltd. The CEO Mr. Y. Ramesh Reddy was earlier present in the board of directors of Brightcom Group.
https://www.crunchbase.com/person/ramesh-reddy
“Securities and Exchange Board of India (SEBI) has issued a showcause notice-cum-interim order against Brightcom Group Ltd and its directors, alleging major fraud in the company’s financial statements.
The interim order has been passed against the company, Suresh Kumar Reddy, Vijay Kancharia, Yerradoddi Ramesh Reddy, and Y. Srinivasa Rao. Suresh Reddy and Kancharia are part of the promoter group, while Rao is the CFO.”
The promoter also gave 12.94% of the company to Ms. Anjana Bhutna through rights issue diluting the promoter shareholding. She sold out most of the shares in open market within a month of listing.