Betala Global Securities Limited vs BSE Limited

IN THE SECURITIES APPELLATE TRIBUNAL
AT MUMBAI


DATED THIS THE 08th DAY OF MAY, 2026.


CORAM: Justice P. S. Dinesh Kumar, Presiding Officer
Ms. Meera Swarup, Technical Member
Dr. Dheeraj Bhatnagar, Technical Member


Appeal No. 302 of 2025


BETWEEN:

Betala Global Securities Limited
Registered Officer No. 24,
Ravanier Street,
Chennai- 600 003 …Appellant


CS Anand Kankani i/b A KANKANI AND ASSOCIATES for the
Appellant.

AND

BSE Limited
P J Towers,
Dalal Street,
Mumbai- 400 001 …Respondent


Mr. Tomu Francis, Advocate with Ms. Zarnaab Aswad,
Advocate i/b Khaitan & Co. for the Respondent.


THIS APPEAL IS FILED UNDER THE SECURITIES CONTRACTS
(REGULATION) ACT, 1956 (“SCRA”) TO SET ASIDE THE
IMPUGNED ORDER DATED 24.02.2025 (ANNEXURE-A2)
PASSED BY DELISTING COMMITTEE OF BSE LTD.

THIS APPEAL HAVING BEEN HEARD AND THE TRIBUNAL MADE
THE FOLLOWING:

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This Appeal is directed against the order dated
February 24, 2025 passed by BSE’s Delisting Committee and
letter dated June 06, 2025, addressed to the Appellant
intimating about the Notice dated May 26, 2025 directing
delisting Company’s equity shares from BSE’s platform, for
non-compliance of LODR Regulations.


2. We have heard Mr. Anand Kankani, authorized
representative for the Appellant and Mr. Tomu Francis, learned
advocate for the Respondent.

3. Mr. Francis, submitted that the appellant was required
to comply with shortfalls by May 04, 2026 however, by May
07, 2026, the Appellant has complied with major shortfalls
and paid outstanding ‘SOP fines’, ‘Annual Listing Fees’,
‘Processing Fees’ and ‘Reinstatement Fees’. Appellant has not
submitted the RTA certificate in the prescribed format. Once
the RTA certificate is submitted, process to revoke the
suspension will commence.

4. In reply, Mr. Anand Kankani, submitted that if appellant
fails to submit the RTA certificate as required within 3 working
days and do the compliances as directed by this Tribunal
within four weeks, BSE may restore the delisting status of the
Appellant-Company pursuant to the impugned order. His
submission is placed on record.

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5. In view of the above, the following: -

ORDER

i. The Appeal is disposed of by placing the submissions
of the learned advocate for the BSE Ltd. and learned
authorised representative for the respondent on
record.

ii. The BSE Ltd. shall restore the listing of the Company
subject to submission of RTA certificate within 3
working days.

iii. The Appellant Company shall ensure continuous
compliances of the LODR Regulations and other
applicable laws on an ongoing basis.

iv. In case, the Appellant Company fails to comply with

the extant norms for revocation of suspension
within four weeks from the date of the restoration
of listing, BSE shall be at liberty to take action in
accordance with law including to restore ‘delisting’
status based on Appellant’s undertaking recording
in Paragraph No. 4 above.

v. BSE shall direct defreezing of demat accounts of the
promoters and promoter group of the Appellant
Company to allow trading in the securities of
Appellant Company, once the RTA certificate is
submitted in prescribed format.

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vi. The Appeal stands disposed of in above terms.
Pending interlocutory application(s), if any, stand
disposed of.

No costs.




Justice P.S. Dinesh Kumar
Presiding Officer



Ms. Meera Swarup
Technical Member



Dr. Dheeraj Bhatnagar
Technical Member
08.05.2026
PK

PRERNA MANISH KHARE
Digitally signed by PRERNA MANISH KHARE
Date: 2026.05.13 15:31:47 +05'30'