AQUITTAL ORDER RECEIVED FROM DISTRICT AND SESSION COURT JAIPUR AGAINST ORDER OF ADDITTIONAL CHIEF MAGISTRATE JAIPUR DATED 17.03.2026.
TIJARIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Tijaria Polypipes Ltd has received an acquittal order from the District and Sessions Court Jaipur Metropolitan, overturning an earlier order from the Additional Chief Judicial Magistrate Jaipur dated 17.03.2026. The case involved criminal charges under Sections 63, 68, and 628 of the Companies Act 1956 relating to alleged misstatements in the company's prospectus. The document discusses IPO proceeds utilization, with significant transfers of approximately Rs. 45.40 crore to various entities including group companies on 13.10.2011. SEBI had conducted an investigation following complaints about the IPO and passed an interim order in December 2011. The acquittal indicates the court found in favor of the accused (company/directors) in this criminal prosecution matter.
Positive for shareholders as the acquittal removes legal uncertainty around prospectus-related criminal charges. The company has been acquitted of the alleged offence, which could reduce overhang on the stock.