Bhageria Industries announced that its wholly owned subsidiary, Rahuri Cleantech Private Limited, has successfully commissioned a 7 MW Solar Photovoltaic (PV) Power Plant. The facility is located at Khanapur, Taluka Shevgaon, District Ahilyanagar, Maharashtra, and became operational on May 25, 2026. This development is part of the aggregate 32 MW capacity being developed under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0, enhancing the company's renewable energy portfolio and supporting its sustainability initiatives.

The project was implemented through the company's wholly owned subsidiary. The installed capacity commissioned consists of two sections, with 3.5 MW on Bay-I and 3.5 MW on Bay-II. The grid-connected solar PV plant is now fully operational.

Project Details

The commissioning of this plant marks a significant step in the company's renewable energy portfolio. The initiative is expected to positively impact the company's financials by bolstering its renewable energy capabilities.

Key Project Specifications

The information was submitted to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bhageria Industries has filed a disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing stock exchanges of a regulatory development concerning proceedings before the Securities Appellate Tribunal (SAT). The disclosure, dated May 16, 2026, was submitted to both the National Stock Exchange of India Limited and BSE Limited by Company Secretary and Compliance Officer Deepa Toshniwal.

Background of the Proceedings

The matter pertains to an application filed by Promoter(s)/Promoter Group(s) and Director(s) of Bhageria Industries, challenging the adjudication order dated March 31, 2023 passed by the Securities and Exchange Board of India (SEBI). In its earlier communication dated March 12, 2026, the company had informed exchanges that SAT had adjourned the matter till May 7, 2026 for final disposal.

Latest Development: SAT Adjournment

When the matter came up for hearing on May 7, 2026, SAT adjourned it further. The company noted that, as this is a group matter involving multiple applicants, law firms, and counsels, the next hearing dates were fixed in consultation with all concerned parties and the Registry. While tentative hearing dates had been communicated orally, the company awaited the formally uploaded order copy for confirmation. The order copy was uploaded on May 15, 2026.

The key details of the updated proceedings are summarised below:

Status of SEBI Order

The SEBI adjudication order dated March 31, 2023 remains stayed until the matter is taken up for final disposal between July 28, 2026 and July 30, 2026. The company has confirmed that there has been no settlement of proceedings, and details pertaining to litigation against key management personnel or promoters are not applicable in the current context.

Regulatory Disclosure Compliance

The disclosure has been made in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, with the requisite details enclosed as Annexure - I. The company has requested both exchanges to take the information on record. The disclosure was digitally signed by Deepa Toshniwal, Company Secretary and Compliance Officer, on May 16, 2026.