Dharani Sugars & Chemicals Limited has informed the Exchange regarding 'Reg30ofSEBI intimation reg receipt of SEBI Letter dt 20.04.2026'.
Awaiting price reaction for this filing.
SEBI has rejected Dharani Sugars & Chemicals Limited's settlement application that was filed in August 2025 to resolve potential enforcement proceedings for alleged violations of SEBI regulations (Regulations 16(1), 16L, 163 and 165 of the ICDR Regulations, 2018). The rejection was due to the company's failure to submit Revised Settlement Terms (RST) within the mandated 15 working days after the Internal Committee meeting held on February 26, 2026. The company has now filed a representation with SEBI requesting reconsideration, citing that the delay was due to time needed for Board approvals and internal compliance processes. The company is seeking condonation of the delay and an extension to submit the RST.
The rejection of the settlement application increases regulatory risk for the company, as enforcement proceedings may now proceed without a negotiated resolution. Shareholders should monitor for potential penalties or further SEBI action, as the matter remains unresolved and has been escalated for reconsideration.