Sebi Confirms Restrictions on Par Drugs’ Proposed Slump Sale
Regulatory Action Pending Investigation
New Delhi, March 26 – The Securities and Exchange Board of India (Sebi) has confirmed its previous directions against Par Drugs and Chemicals Ltd (PDCL) regarding a proposed slump sale of its core business to a promoter-related entity. The regulator’s decision follows a pending investigation into the matter.Confirmatory Order Issued
On March 25, Sebi issued a confirmatory order affirming the directions outlined in an interim order issued on September 15, 2025. The order states that PDCL has not successfully refuted the findings presented in the initial interim order.| Details | Information |
|---|---|
| Regulator | Securities and Exchange Board of India (Sebi) |
| Company Involved | Par Drugs and Chemicals Ltd (PDCL) |
| Transaction | Proposed slump sale of core business |
| Buyer | Phal-Jig Fine Chemicals Pvt Ltd (PJFCPL) |
| Transaction Value | Rs 95 crore |
| Date of Agreement | February 14, 2025 |
| Date of Interim Order | September 15, 2025 |
Investigation Ongoing
Sebi’s Whole Time Member, Kamlesh Chandra Varshney, indicated that the detailed investigation is ongoing and a comprehensive understanding will be reached after the final findings. The regulator stated that the current directions will remain in effect until further notice.Prior Restrictions
In September 2025, Sebi had initially barred PDCL from proceeding with the slump sale, citing concerns about the valuation process, shareholder communication, and the voting procedure. The buyer, Phal-Jig Fine Chemicals Pvt Ltd, is part of PDCL’s promoter group.Source:
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