Decillion Finance Ltd has seen a significant reduction in stake by Sri Salasar Suppliers Private Limited through two separate transactions on the Bombay Stock Exchange (BSE). Sri Salasar Suppliers, which is not part of the promoter or promoter group of Decillion Finance, executed these sales in open market transactions.

First Transaction

In the first transaction, Sri Salasar Suppliers sold 751,693 equity shares, representing 2.16% of the total equity and voting share capital of Decillion Finance. This sale took place over multiple dates between October 20 and November 11, 2022. Following this disposal, Sri Salasar Suppliers' holding in Decillion Finance decreased from 9.11% to 6.95%.

Second Transaction

The second transaction involved the sale of 108,374 equity shares, accounting for 3.10% of Decillion Finance's total equity and voting share capital. This disposal occurred on various dates between November 14 and November 22, 2022. After this sale, Sri Salasar Suppliers' stake in Decillion Finance further reduced from 6.95% to 3.86%.

Impact on Shareholding

The combined effect of these two transactions resulted in Sri Salasar Suppliers divesting a total of 5.26% of its stake in Decillion Finance. The company's shareholding decreased from an initial 9.11% to 3.86% following the completion of both sales.

About Decillion Finance Ltd

Decillion Finance Ltd is listed on both the BSE (scrip code: 539190) and the Calcutta Stock Exchange (scrip code: 013097). The company has a total equity share capital of Rs. 3.50 crore, comprising 35 lakh equity shares with a face value of Rs. 10 each.

Regulatory Compliance

These transactions were reported in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Sri Salasar Suppliers Private Limited duly informed Decillion Finance Ltd about these disposals, adhering to the regulatory requirements for transparency in stock market transactions.

The disclosures provided by Sri Salasar Suppliers demonstrate the company's commitment to maintaining transparency in its dealings, which is crucial for the proper functioning of the stock market and for keeping investors informed about significant changes in shareholding patterns.

The Supreme Court has taken a significant step in the ongoing multi-crore bank loan scam case involving DHFL promoter Dheeraj Wadhawan. The apex court has cancelled the bail previously granted to Wadhawan and directed him to surrender within two weeks.

Bail Cancellation and Court's Decision

The Supreme Court's decision comes after a thorough review of a medical board report. This ruling effectively overturns the Delhi High Court's bail order, which was initially granted on medical grounds. The Central Bureau of Investigation (CBI) had appealed against the high court's decision, with the Additional Solicitor General arguing that Wadhawan did not suffer from any serious medical ailments that warranted bail.

Background of the Case

The case revolves around allegations of a massive bank loan scam involving the Wadhawan brothers, Kapil and Dheeraj. They were arrested following the filing of an FIR by Union Bank of India. The charges against them are severe, including:

• Criminal conspiracy to cheat a consortium of 17 banks led by Union Bank of India
• Allegedly siphoning off loans totaling ₹42,871.42 crore
• Falsification of DHFL's books
• Dishonest default in loan repayment

Implications and Next Steps

The Supreme Court's decision to cancel Dheeraj Wadhawan's bail underscores the gravity of the allegations and the court's commitment to ensuring due process in high-profile financial cases. With the directive to surrender within two weeks, Wadhawan will now have to return to custody as the legal proceedings continue.

This development is likely to have significant implications for the ongoing investigation into one of India's largest alleged bank loan scams. It also sends a strong message about the judiciary's stance on white-collar crimes and financial irregularities in the banking sector.

As the case progresses, it will be closely watched by the financial industry, regulatory bodies, and the public, given its scale and the potential impact on the banking system and corporate governance practices in India.