Prakash Steelage Limited announced that Hon'ble Securities Appellate Tribunal has passed an Order dated November 6, 2023 in Appeal No 709 of 2022 filed by Shri Prakash C Kanugo, Manging Director of Prakash Steelage Limited and Prakash Steelage Limited ("PSL") challenging the Order dated 29th July 2022 passed by Learned Adjudication Officer SEBI in the matter of suspected Insider Trading activates of certain entities in the scrip of Prakash Steelage Limited. The company further announced that Hon'ble Securities Appellate Tribunal vide Order dated November 6, 2023 in Appeal No 709 of 2022 has been pleased to set aside the Penalty of INR 100,000/- imposed on Prakash Steelage Limited and has also reduced Penalty of INR 1,700,000/- imposed on Shri Prakash C Kanugo, Managing director of Prakash Steelage Limited to INR 500,000/-.