To

All Trading Members of the Exchange

Sub: SAT Order in the matter of Nirmal N. Kotecha in the matter of Usher Agro Limited (UAL).

In continuation to the Exchange Notice No. 20190918-28 dated September 18, 2019 on the captioned matter.

The Hon’ble Securities Appellate Tribunal (SAT) vide its order dated June 08, 2021 stated that the impugned order cannot be sustained and is quashed.

A copy of the said Order is attached herewith and available on the SEBI website www.sebi.gov.in.

Trading members are advised to take note of the same and ensure compliance.

Jeevan Noronha                                                     Roshani More

Senior Manager                                                      Assistant Manager Surveillance                                                           Surveillance

Date: June 14, 2021