This disclosure is a regulatory update filed by Sundae Capital Advisors Private Limited with the National Stock Exchange of India Limited and BSE Limited. It is a continuation of a prior submission made on June 29, 2026.
The matter pertains to an open offer given by Marwadi Chandarana Intermediaries Brokers Private Limited (the Acquirer) to the shareholders of Trucap Finance Limited (the Target Company).
The Securities Appellate Tribunal (SAT) heard the matter on July 08, 2026. The Hon'ble SAT allowed the appeal. The tribunal set aside the direction contained in SEBI's communication dated January 30, 2026, as well as its prior communication dated October 27, 2025.
The matter has been remanded back to the Securities and Exchange Board of India (SEBI) for passing a speaking order.
The letter is signed by Chirag Pareek, Manager, for Sundae Capital Advisors Private Limited.