SEBI Rejects Bajaj Hindusthan Jurisdictional Challenges

SEBI order addresses preliminary jurisdictional objections raised by Bajaj Hindusthan Sugar Limited and its promoters regarding a show cause notice.
The notice alleges ₹1,189 crore fund diversion through related parties OIPL and BPGPL between FY 2011-2015 with non-disclosure of RPTs.
Noticees contested jurisdiction citing two exculpatory forensic audit reports from Deloitte and Mazars, and alleged 9-year delay in proceedings.
Quasi-judicial authority ruled that SEBI has jurisdiction and the objections pertain to adjudicatory facts rather than jurisdictional defects.