Bhageria Industries Limited has submitted a regulatory disclosure to the National Stock Exchange of India Limited and BSE Limited, in compliance with Regulation 30 of the SEBI LODR Regulations.
The disclosure provides an update on ongoing legal proceedings before the Securities Appellate Tribunal (SAT). The matter involves an appeal filed by the company's Promoters/Promoter Group and Directors, challenging an adjudication order passed by SEBI on March 31, 2023.
Key Developments and Dates
- The hearing, previously adjourned to October 21, 2026, has been further adjourned.
- The SAT has now scheduled the next hearing for January 5, 2027, for final disposal of the matter.
- The adjournment was necessitated as it is a group matter involving multiple applicants, law firms, and counsels; the date was fixed in consultation with all parties and the Registry.
- The SEBI adjudication order dated March 31, 2023, remains stayed until the next hearing date.
The disclosure includes the requisite Annexure I as mandated by SEBI Circular No. SEBI/HO/CFD/CFD–PoD–1/P/CIR/2023/123 dated July 13, 2023.
Annexure I Details
- a) Change in status/development: SAT has adjourned the matter; next listed for final disposal on January 5, 2027.
- b) Litigation against key management: Not Applicable.
- c) Settlement of proceedings: Not Applicable.
Financial Impact
The disclosure does not quantify any financial impact of the ongoing proceedings or the stayed SEBI order.
The communication was signed by Deepa Toshniwal, Company Secretary & Compliance Officer (ACS: A66073), on behalf of Bhageria Industries Limited.