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March 14, 2001
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Money > Business Headlines > Report March 14, 2001 |
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Rathi moves court against Sebi rulingSidharth Shah in Bombay
He also questioned Sebi's action of moving unilaterally without asking for an explanation from him or serving him with a show cause notice. Both Rathi and Sebi produced before the court the transcript of the conversation Rathi had with BSE surveillance officer Arun Dhandawade (it was alleged that during the said conversation Rathi received insider information). The conversation took place at 15:10 IST when the market had fallen by 155 points on March 2. Rathi contended that he is not a beneficiary of any insider information and had nothing to do with the stock market crisis. He has challenged Sebi's order to stop his firms from trading. The next hearing in the case will be held on Monday, March 19. |
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Anand Rathi, former president of the Bombay Stock Exchange, has moved the Bombay high court against the Securities and Exchange Board of India, contesting the market regulator's