Dharani Sugars: SEBI Rejects Settlement Application, Company Seeks Reconsideration
Dharani Sugars & Chemicals Ltd announced that SEBI rejected its settlement application on April 20, 2026. The rejection was due to the company's failure to submit Revised Settlement Terms (RST) within the stipulated 15 working days following an Internal Committee meeting on February 26, 2026. The original settlement application, filed on August 20, 2025, pertained to alleged violations of Regulations 160(f), 161, 163, and 165 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Dharani Sugars has since submitted a representation to SEBI, requesting reconsideration of the decision, condonation of the delay, and an extension to file the RST. The company attributed the delay to the time required for obtaining necessary Board approvals and completing internal compliance processes.
Key Highlights
- SEBI rejected Dharani Sugars' settlement application on April 20, 2026.
- Rejection was due to delayed submission of Revised Settlement Terms (RST).
- Company had sought settlement for alleged SEBI ICDR Regulations violations.
- Dharani Sugars requested SEBI to reconsider and condone the delay.
- Delay was attributed to board approvals and internal compliance processes.
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