Riddhi Siddhi Gluco Biols Limited has disclosed that the Supreme Court of India has upheld the Securities Appellate Tribunal (SAT) order in a regulatory matter involving the company. The Supreme Court pronounced its order on 19 March 2026, rejecting the company's appeal against the SAT decision dated 09 March 2026.

Supreme Court Decision Details

The company, along with other appellants, had challenged the SAT order before the Supreme Court. The matter relates to earlier orders passed by SEBI's Adjudicating Officer and Whole Time Member regarding alleged violations of securities laws.

Regulatory Violations and Penalties

The case involves allegations of violations of Minimum Public Shareholding (MPS) requirements and issues related to the company's delisting under various securities laws. The company has indicated that there is no quantifiable monetary impact on its financial, operational, or other activities from this order.

Previous Compliance Actions

The company has already deposited penalties as directed by the Securities Appellate Tribunal. The Adjudicating Officer had imposed a penalty of Rs. 5 lakh each on the company and two of its promoter directors through an order dated 02 July 2021.

Next Steps and Compliance

Riddhi Siddhi Gluco Biols stated that it will consult with its Board of Directors to take necessary steps for compliance with the Securities Appellate Tribunal directions. The company will follow applicable rules and regulations in implementing the required measures. The disclosure was made under Regulation 30 of SEBI Listing Regulations, with the company referencing its earlier intimations dated 12 August 2021, 01 November 2021, and 11 March 2026.

Riddhi Siddhi Gluco Biols Limited has disclosed receiving a Securities Appellate Tribunal (SAT) order dated March 09, 2026, which provides a mixed outcome on the company's appeals against SEBI orders. The company received the order on March 10, 2026, addressing two separate appeals challenging previous SEBI decisions.

SAT Appeal Outcomes

The tribunal delivered contrasting verdicts on the two appeals filed by the company and its promoters:

Debarment and Compliance Directives

The SAT has imposed specific debarment periods and compliance requirements on various entities and individuals associated with the company:

Minimum Public Shareholding Compliance

The tribunal has directed the company to comply with Minimum Public Shareholding requirements within 5 months from the order date. The SAT upheld SEBI's findings regarding the company's non-compliance with MPS norms, which formed part of the original violations. The company faces allegations related to delisting under various Securities Laws in addition to the MPS requirement violations.

Financial Impact and Previous Penalties

The company has indicated that the SAT order will have no quantifiable monetary impact on its financial or operational activities. However, a penalty of Rs. 5 lakh each imposed on the company and two promoter directors by the Adjudicating Officer's order dated July 02, 2021, was already deposited with SEBI following earlier SAT directions dated August 12, 2021.

Company's Response

Riddhi Siddhi Gluco Biols Limited has stated that it is legally examining the contents of the SAT order and will take appropriate legal actions as advised. The disclosure was made under Regulation 30 of the SEBI Listing Regulations, with the company secretary Sharad Jain signing the compliance document on March 11, 2026.