United Spirits Limited has disclosed that it received a notice on November 6, 2024, regarding an appeal filed by the Securities and Exchange Board of India (SEBI) before the Supreme Court of India. This appeal challenges the Securities Appellate Tribunal’s (SAT) order dated July 26, 2023, which had allowed Diageo plc (the ultimate parent of United Spirits) to appeal SEBI’s previous decision related to an open offer made by the Diageo group to United Spirits shareholders in 2012.
United Spirits clarified that neither the SAT’s order nor SEBI’s subsequent appeal has any operational or other impact on the company. The company made this disclosure in the interest of transparency, noting a slight delay due to its evaluation of the notice and assessment of its disclosure obligations.
