SAT Upholds SEBI Penalty on Som Distilleries for 'Clever' Disclosure

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SAT Upholds SEBI Penalty on Som Distilleries for 'Clever' Disclosure

SAT upholds SEBI action on Som Distilleries over ‘clever’ disclosure

M

Moneycontrol•25-02-2026, 13:54

SAT Upholds SEBI Penalty on Som Distilleries for 'Clever' Disclosure

•Securities Appellate Tribunal (SAT) affirmed SEBI's penalty on Som Distilleries & Breweries Ltd.
•Penalty imposed for inadequate disclosures regarding the cancellation of a shareholder meeting for a fundraise plan.
•Company initially cited 'unforeseen circumstances' for EGM cancellation, later stating 'lower funding needs' in an investor call.
•SAT found the differing explanations misleading and a violation of disclosure norms, influencing stock prices.
•The tribunal dismissed Som Distilleries' appeal, upholding the Rs 5 lakh fine imposed by SEBI.

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