Defendant Name: Cemtrex, Inc.

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 15130G60

Initial Case Details

Legal Case Name In the Matter of Cemtrex, Inc. and Saagar Govil
First Document Date 30-Sep-2022
Initial Filing Format Administrative Action
File Number 3-21189
Allegation Type Securities Offering

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
Securities Act
• Sec 17(a) (Not specified)

Resolutions

First Resolution Date 30-Sep-2022
Headline Total Penalty and Disgorgement $2,200,000

Related Documents:

33-11114 30-Sep-2022 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On September 30, 2022, the SEC instituted settled cease-and-desist proceedings against Cemtrex, Inc. and Saagar Govil, stating: "These proceedings arise out of misrepresentations by Cemtrex, a diversified technology company, regarding Cemtrex’s use of offering proceeds and undisclosed trading in Cemtrex stock, as well as misrepresentations by Cemtrex and its Chairman and CEO, S. Govil, regarding sales of Cemtrex’s flagship business and consumer electronics product, the SmartDesk."

Other Defendants in Action:

Saagar Govil