Excel Realty N Infra Limited had filed an Appeal bearing Appeal No. 763 of 2023 before Hon'ble Securities Appellate Tribunal (SAT) against the Impugned Order No: WTM/AB/CFID/CFID-SEC1/28292/2023-24 dated 28th July, 2023 from SEBI. The Hon'ble SAT by Order dated September 26, 2023 passed in the Captioned Appeal has been pleased to stay the effect and direction of the Impugned Order till further orders subject to the condition that the appellant shall deposit 50% of the penalty amount within four weeks from September 27, 2023.

If the said amount is deposited, the balance amount shall not be recovered during the pendency of the appeal.