With reference to the email dated December 01, 2022 at 7:05 PM ('the said Communication') seeking certain clarification regarding news item appearing in 'Media/Publication' relating to order passed by Whole Time Member, Securities and Exchange Board of India ('WTM-SEBI') against Anand Rathi Commodities ('ARCL') and four other brokers. Anand Rathi Wealth has clarified that ARCL is neither its subsidiary, holding or a group company as provided in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2021/Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015. Accordingly, ARCL has not been disclosed as group company/subsidiary in the prospectus filed at the time of initial public offer; Findings against ARCL in the order passed by WTM-SEBI as referred in the ‘Media/Publication’ has no bearing/impact on the financials and/or business of Anand Rathi Wealth (ARWL). Accordingly, the findings/observations made in the said order of WTM-SEBI are not relevant for ARWL (the listed entity); ARCL has already discontinued its business in commodity broking since July 2018.
The above information is a part of company’s filings submitted to BSE.
