Securities Appellate Tribunal
Lords Chemicals Ltd vs BSE Limited on 30 September 2026
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 30.09.2026
Appeal No. 365 of 2025
Lords Chemicals Ltd.
… Appellant
Versus
BSE Limited
… Respondent
Mr. Anand Kankani, CS with Ms. Muskan Kadiwar, Ms. Alka Jain, CS and Ms. Vedica Gaggar, Ms. Payal Lad, Ms. Vedika Sharm, Advocates i/b. A Kankani & Associates for the Appellant.
Ms. Zarnaab Aswad, Advocate with Mr. Aayush Pandey, Advocate i/b Khaitan & Co. for the Respondent.
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ORDER :
1. Mr. Anand Kankani, learned authorized representative for the appellant submitted that appellant has complied with all the non-compliances.
2. Ms. Zarnaab Aaswad, learned advocate for the BSE seeks time to complete instructions. She also submitted that there is a settlement application pending before the SEBI.
3. To a pointed query with regard to settlement proceedings, Mr. Kankani for the appellant submitted that the settlement is in respect of violation of transferring shares by the promoters. In our prima facie view, violation of 2015 circular is an independent proceeding and should
2 not come in the way of consideration by the exchange for restoration of the company.
4. Accordingly, we direct BSE to send list of non- compliances if any, to the appellant.
5. By consent, call on October 16, 2026.
Justice P. S. Dinesh Kumar Presiding Officer
Ms. Meera Swarup Technical Member
Dr. Dheeraj Bhatnagar Technical Member 30.09.2026 PTM MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2026.10.01 14:12:48 +05'30'