Prabhat Dairy Limited

3 matters before the Securities Appellate Tribunal

Penalties and directions recorded

NSE and BSE directed to process the delisting application within the stipulated regulatory period and pass appropriate orders in accordance with law.
PDL to deposit Rs 1292.46 cr in interest-bearing Special Escrow Account in nationalised bank

SAT-appeal

SAT matter SATV-896705CFF9EB80E694809AD0
Review Application No. 11 of 2020 dismissed with no order as to costs · Tribunal order is clear and requires no clarification
Appeal: Review Application No. 11 of 2020 in Appeal No. 413 of 2020 dismissed on 09.02.2021 (reserved 18.01.2021); Appeal No. 413 of 2020 had been allowed setting aside WTM order
SAT matter SATV-545F9E8B73B9C326004C45B7
Conditions in paragraph 14 of the WTM order dated 21 December 2020 quashed. · NSE and BSE directed to process the delisting application within the stipulated regulatory period and pass appropriate orders in accordance with law.
Appeal: Appeal No. 42 of 2021, Prabhat Dairy Limited v. SEBI & Ors., decided by SAT on 4 March 2021; appeal allowed to the specified extent.
Prima-facie lack of trail/utilisation of sale proceeds, non-distribution to shareholders and delisting floor price not commensurate with funds, indicating possible diversion and need for forensic audit.
PDL to deposit Rs 1292.46 cr in interest-bearing Special Escrow Account in nationalised bank · Audit Committee to monitor escrow creation/funding; JM Financial to monitor operations till audit ends

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Source: SecMarx — Prabhat Dairy Limited. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.