sebi:WTM/KV/CFID/CFID-SEC4/32246/2025-26
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Facts / Headnote
Directions issued vide the Interim Order dated September 15, 2025 are confirmed without modification.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 11D
Parties
- Par Drugs and Chemicals Limited
Holding
SEBI confirmed the ex-parte interim directions restraining Par Drugs and Chemicals Limited from effecting the slump sale of its business undertaking to PJFCPL, holding that the Noticee failed to rebut the prima facie findings recorded in the Interim Order.
Full text
Confimatory Order in the matter of Par Drugs and Chemicals Limited Page 2 of 21 A. BACKGROUND 1. Par Drugs and Chemicals Limited (hereinafter referred to as “Noticee”/ “PDCL”) is a company listed on National Stock Exchange of India Limited (hereinafter referred to as “NSE”) having its registered office at 815, Nilamber Triumph, Gotri Vasna Road, Vadodara-390007, Gujarat, India. The Company is engaged in the business of development and manufacturing of active pharma ingredients or antacid raw materials and fine chemicals.
Confimatory Order in the matter of Par Drugs and Chemicals Limited Page 3 of 21 valuation and that the proposed transaction had already resulted in erosion of around 70% of the share value of the Company since the decision was made public. It was further alleged that the promoter and management of PDCL are acting in an arbitrary manner to play fraud upon public shareholders through the proposed slump sale.
Confimatory Order in the matter of Par Drugs and Chemicals Limited Page 4 of 21 establishment (Land, Building, Plant and Machinery, Specific Current Assets and Current Liabilities).
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Source: SecMarx — sebi:WTM/KV/CFID/CFID-SEC4/32246/2025-26. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.