DroneAcharya Aerial Innovations has issued an official clarification under Regulation 30 addressing false and misleading information circulating on digital platforms regarding the company. The drone technology and training services provider has taken formal steps to address misinformation that may mislead investors and the public.

Company's Response to False Information

The company has identified that certain false, misleading, and negative information is being circulated on social media platforms and other forums. DroneAcharya stated that this information is factually incorrect and presented in a manner that may mislead investors and the public. The company believes such information is being disseminated with the apparent intent of defaming the company and creating unwarranted speculation.

Regulatory Compliance and SAT Stay Order

The company has reaffirmed that all its disclosures have been accurate, factual, and in full compliance with applicable laws and regulatory requirements. A key development highlighted in the clarification involves the stay order granted by the Securities Appellate Tribunal (SAT) against the levy of penalty by SEBI.

Investor Advisory and Caution

DroneAcharya has specifically advised investors and the public to exercise due caution and rely solely on disclosures made by the company to stock exchanges and statutory filings for authentic information. The company emphasized that stakeholders should refrain from believing, circulating, or acting upon rumors or unverified content appearing on social media platforms or other sources.

The clarification was signed by Prateek Srivastava, Managing Director, and submitted as an official regulatory disclosure. As the matter involving the SAT stay order is presently sub judice, the company stated it is constrained from making detailed statements beyond the clarification provided.

DroneAcharya Aerial Innovation Limited has secured significant relief from the Securities Appellate Tribunal (SAT) regarding the penalty order imposed by the Securities and Exchange Board of India (SEBI). The company announced that SAT has granted a stay order against the recovery of penalty amount with immediate effect.

SAT Stay Order Details

The Securities Appellate Tribunal issued its order on December 19 in Appeal No. 549, providing substantial relief to DroneAcharya Aerial Innovation and its promoters. The tribunal's decision comes as a response to the company's appeal against the SEBI order dated November 28.

Tribunal Proceedings and Timeline

The SAT has structured the appeal process with specific timelines for all parties involved. The tribunal has admitted the appeal and established a clear procedural framework for the case proceedings.

Key procedural aspects include:

• SEBI (respondent) has been allowed four weeks to file its reply
• Rejoinder to be filed within two weeks after SEBI's reply
• Stay of recovery subject to 50% penalty deposit within four weeks

Financial Implications

The SAT order significantly reduces the immediate financial burden on DroneAcharya Aerial Innovation. Instead of the full penalty amount, the company is now required to deposit only 50% of the penalty within the stipulated four-week timeline from December 19.

Regulatory Compliance

DroneAcharya Aerial Innovation has maintained transparency by promptly disclosing this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company filed the disclosure following the Industry Standards Format (ISF) for uniform disclosures across listed entities.

The SAT's decision provides the company with breathing room while the appeal process continues, allowing it to contest the original SEBI order while meeting reduced financial obligations in the interim.