Dharani Sugars Seeks Reconsideration and Extension Following Settlement Application Rejection
Dharani Sugars and Chemicals Limited has approached the Securities and Exchange Board of India (SEBI) seeking reconsideration of a settlement application rejection and an extension period for submitting revised settlement terms.The Company received a letter dated April 20, 2026, from SEBI, which intimated the rejection of a settlement application previously filed by Dharani Sugars and Chemicals Limited.
The rejection related to an application initially filed concerning alleged violations of SEBI regulations. The Company noted that an Internal Committee meeting regarding the matter was held on February 26, 2026, where an indicative Amount was communicated.
According to the correspondence, the rejection was predicated on the non-submission or delay in submitting the Revised Settlement Terms (RST).
In response to the rejection, Dharani Sugars and Chemicals Limited has submitted a representation to SEBI. The company stated that the delay in submitting the Revised Settlement Terms was neither wilful nor deliberate. Instead, the delay was occasioned due to the time required for obtaining necessary approvals from the Board of Directors and completing internal compliance processes, including the detailed evaluation of the indicative Amount communicated during the internal committee meeting.
The company emphasized that the matter involved financial and governance considerations requiring detailed deliberations at the Board level, which contributed to the delay.
Seeking a favourable decision, the company respectfully requested SEBI to condone the delay in the submission of the Revised Settlement Terms, grant an extension of time, and reconsider and revive the original settlement application. Dharani Sugars and Chemicals Limited reaffirmed its commitment to resolving the matter through the settlement mechanism.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.