Legal6 Nov 2026, 09:04 am
SAT sets aside SEBI penalty of ₹26 Cr on Coffee Day Enterprises
AI Summary
The Securities Appellate Tribunal (SAT) has set aside SEBI's order dated January 24, 2023, which imposed a penalty of ₹26 Crores on Coffee Day Enterprises Ltd (CDEL) and directed steps for recovery of dues from Mysore Amalgamated Coffee Estates Limited (MACEL). The original SEBI order had also directed CDEL to take steps for recovery of ₹3,535 Crore diverted from seven subsidiaries to MACEL. The SAT's final judgment dated November 5, 2026, disposed of the appeal, setting aside the WTM's order. CDEL is currently evaluating its next course of action.
Key Highlights
- SAT quashed SEBI's ₹26 Crore penalty against Coffee Day Enterprises.
- SEBI's order for recovery of ₹3,535 Crore from MACEL also set aside.
- The Securities Appellate Tribunal disposed of the appeal in favor of CDEL.
- CDEL is reviewing the SAT order and considering further actions.
Price Impact
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