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Mehak Chanotiya
March 14, 2026

Submitted By: Mehak Chanotiya

Adjudication Order in the matter of Financial Mis-statements of Coffee Day Enterprises Limited

SEBI imposed a total penalty of ₹38 Lakh on CDEL and 9 officials (including CEO, CFO, and Directors) for violating Ind AS and LODR Regulations by failing to account for interest expenses. The order firmly establishes that disclosure of non-compliance in 'Notes to Accounts' does not substitute for actual recognition in financial statements, emphasizing the board's collective responsibility for ensuring a 'true and fair' view."

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