Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Interim Order of Securities Appellate Tribunal dated May 2, 2025
ONELIFECAP · price
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Awaiting price reaction for this filing.
The Securities Appellate Tribunal (SAT) has passed an interim order on May 2, 2025 in an appeal filed by Onelife Capital Advisors and its director Mr. Pandoo Naig against an earlier SEBI order dated March 28, 2025. SAT gave partial relief: the Exchanges and Depositories cannot change the company's 'fit and proper' status based on the SEBI order until further orders, and recovery of the Rs. 25 lakh penalty on each of the company and Mr. Pandoo Naig has been stayed, provided 50% of the penalty is deposited. However, SAT refused to stay the directions restraining the company from accessing the securities market and barring Mr. Pandoo Naig from being appointed as Director or KMP in any listed company. The company has admitted this could hurt its ability to raise funds and pursue strategic plans.
Mixed outcome for shareholders — the market access ban on the company and its director continues, which may limit fundraising and growth plans, but the penalty recovery is on hold and the 'fit and proper' status is protected. Expect continued uncertainty and potential pressure on the stock until the final SAT ruling.