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Marwadi Chandarana appeals SAT decision regarding Trucap Finance open offer termination
01-Sep-2026, 08:49
Marwadi Chandarana Intermediaries Brokers Private Limited has appealed to the Hon’ble Securities Appellate Tribunal (Hon’ble SAT) regarding the open offer to the shareholders of Trucap Finance Limited, following the termination of a Share Purchase Agreement for 3,68,00,220 equity shares and a Securities Subscription Agreement for 11,56,80,000 equity shares and 9,37,00,000 convertible warrants, as previously announced on September 25, 2025; the Hon’ble SAT set aside directions contained in Securities and Exchange Board of India’s (SEBI) communication dated January 30, 2026, and the appeal is listed for hearing on September 07, 2026.