News Stocks Apollo Ingredients Limited Receives Interim Relief from Securities Appellate Tribunal in BSE Fine AppealApollo Ingredients Limited Receives Interim Relief from Securities Appellate Tribunal in BSE Fine Appeal
Apollo Ingredients Limited has received interim relief from the Securities Appellate Tribunal in its appeal against BSE's rejection of a fine waiver application. The SAT admitted the appeal, condoned a 69-day filing delay, and ordered defreezing of promoters' demat accounts upon deposit of ₹2.06 lakh under protest. The company states this will not materially impact its financial position or operations, with the next hearing scheduled for June 18, 2026.
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Apollo Ingredients Limited (formerly Indsoya Limited) has secured interim relief from the Securities Appellate Tribunal (SAT) in its ongoing appeal against BSE Limited regarding the rejection of a waiver application for exchange-imposed fines. The company disclosed this development under Regulation 30 of SEBI LODR Regulations on March 1, 2026.
SAT Order Details
The Securities Appellate Tribunal, Mumbai, passed its interim order on February 26, 2026, in Appeal No. 39 of 2026, along with Miscellaneous Application Nos. 152 & 153 of 2026. The appeal was filed by Apollo Ingredients Limited challenging BSE Limited's decision to reject its waiver application for fines imposed by the exchange.
Key Directions from the Tribunal
The SAT issued several important directions following the hearing:
| Parameter: | Details |
|---|---|
| Delay Condonation: | 69 days delay in filing appeal condoned |
| Appeal Status: | Admitted by the tribunal |
| Fine Amount: | ₹2,06,000 (Rupees Two Lakh Six Thousand only) |
| Deposit Timeline: | Within one week under protest |
| Promoter Relief: | Demat accounts to be defrozen upon deposit |
| Next Hearing: | June 18, 2026 |
Procedural Timeline
The tribunal has established a structured timeline for the proceedings. BSE Limited has been granted six weeks to file its reply, while Apollo Ingredients Limited will have three weeks thereafter to submit its rejoinder. The deposited amount of ₹2,06,000 will be maintained in an interest-bearing account by BSE, with the final disposition subject to the appeal's outcome.
Financial Impact Assessment
According to the company's disclosure, the interim order does not have any material impact on Apollo Ingredients Limited's financial position, operations, or other activities. The only financial implication is the required deposit of ₹2,06,000 under protest, which remains contingent upon the final adjudication of the appeal.
Regulatory Compliance
The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Ayushi Agrawal signed the disclosure document, ensuring compliance with regulatory requirements and industry standard formats for uniform disclosures across listed entities.
The interim relief provides Apollo Ingredients Limited with operational flexibility while the substantive appeal remains pending before the Securities Appellate Tribunal, with the next hearing scheduled for June 18, 2026.
Historical Stock Returns for Indsoya
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.93% | 0.0% | +15.64% | +96.13% | +96.13% | +150.00% |
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