Intimation of Order passed by Securities Appellate Tribunal
METROGLOBL · price
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Awaiting price reaction for this filing.
The Securities Appellate Tribunal (SAT), Mumbai has pronounced an order on March 9, 2026, partially allowing Metroglobal's appeal (No. 617 of 2021) against SEBI's original order dated August 11, 2021. The original two-year debarment from accessing the securities market has been reduced to just three months from the date of the SAT order. The company has called this 'substantial relief,' though it notes that not all of its legal submissions were addressed. Metroglobal is now deciding whether to accept the reduced three-month restraint or pursue further appeal before higher courts. The case relates to the matter of Riddhi Siddhi Gluco Biols Limited & Ors. The company has committed to further updates only if it chooses to file a further appeal.
This is a meaningfully positive outcome for shareholders, as the market access restriction has been cut from 24 months to just 3 months. However, some uncertainty remains until the company finalises its decision on whether to accept the order or continue litigation, which could keep short-term sentiment cautious.