United Breweries (Holdings) Limited

SAT-appeal

• SEBI orders directed each appellant to restate financial statements for specified financial years.
  Impugned SEBI orders quashed and set aside. · SEBI granted liberty to pass fresh orders on merits and in accordance with law.
  Appeal: Appeal Nos. 451 of 2014, 296 of 2015, 301 of 2015, 347 of 2015 and 497 of 2015 disposed of on 29 March 2016; impugned orders quashed and set aside with liberty to SEBI to issue fresh orders.
• The appeals challenged SEBI orders directing the appellants to restate financial statements for specified financial years.
  Impugned SEBI orders quashed and set aside. · SEBI granted liberty to pass fresh orders on merits and in accordance with law.
  Appeal: Appeal Nos. 451 of 2014, 296 of 2015, 301 of 2015, 347 of 2015 and 497 of 2015 disposed of on 29 March 2016; impugned orders quashed and set aside with liberty to SEBI to pass fresh orders.
• SEBI direction to each appellant to restate financial statements for financial years specified in respective SEBI orders
  Impugned SEBI restatement orders in all five appeals quashed and set aside · Liberty to SEBI to pass fresh orders on merits and in accordance with law
• SEBI orders directed each appellant to make restatement of financial statements for financial years set out therein
  Impugned SEBI restatement orders quashed and set aside · Liberty to SEBI to pass fresh orders on merits in accordance with law
  Appeal: Appeal Nos. 451 of 2014, 296 of 2015, 301 of 2015, 347 of 2015 and 497 of 2015 disposed on 29.03.2016 - impugned orders quashed
• SEBI orders directing each appellant to restate financial statements for financial years set out in respective orders.
  Impugned SEBI restatement orders in all five appeals quashed and set aside · Liberty to SEBI to pass fresh orders on merits and in accordance with law with all contentions kept open
• Failure to disclose creation/invocation of four pledge/encumbrance transactions in United Spirits Ltd within 7 working days
  Appeal No. 20 of 2016 dismissed with no order as to costs · Appellant directed to pay Rs 15 lakh penalty within 30 days from date of order
  Appeal: Appeal No. 20 of 2016 decided on 25.09.2017 - dismissed