Reliance Industries Ltd had sought to settle certain investigations into alleged violation of insider trading norms in sale of shares of its erstwhile subsidiary Reliance Petroleum Ltd, but the application to settle of the matter under Sebi's consent framework was rejected by the regulator.
Govt to scrap 8 appellate tribunals; National Company Law Appellate Tribunal to take over Competition Appellate Tribunal's duties
With investors seeking clarity from the market tribunal SAT on Bharti Airtel's proposed mega deal with MTN, the Sunil Mittal company today said it is still in discussion with the South African firm.
The bench observed that it needs more time to study Sebi's view on the matter.
MCX Stock Exchange (MCX-SX) continued its tirade against the Securities and Exchange Board of India (Sebi), alleging "discrimination" and "character assassination" while rejecting its application for launching a full-fledged stock exchange.
A bench of Justices DY Chandrachud and M R Shah got annoyed when one of the advocate appearing for the parties sought two week adjournment on the ground that arguing counsel was not present.
RIL has filed a petition before SAT against Sebi's rejection of its application for 'consent settlement' of a probe into alleged violation of insider trading norms in sale of shares of the company's erstwhile subsidiary RPL.
After the preliminary examination, the market regulator found that certain entities, including Indiabulls, had executed irregular and non-genuine trades.
The Securities Appellate Tribunal (SAT) on Friday banned Shankar Sharma, director and chief global strategist of broking firm First Global from trading in bourses for one year.
Company is fighting 2 cases- one challenging the new consent mechanism guidelines, another seeking adjudication proceedings on the insider trading case
SAT has issued order to freeze Subrata Roy's account.
Now, a retired judge of a High Court with seven years of experience would be eligible for the appointment.
A bench comprising Justices N K Sodhi and Samar Ray observed that the appeal was 'premature' and dismissed it as 'infructious'. Deepak Mehra, a shareholder of Bharti Airtel who holds around 100 shares aggregating to around Rs 40,000, sought to overturn an informal guidance issued by Sebi on June 22.
The Securities Appellate Tribunal has stayed the order of market regulator SEBI suspending Anil Ambani Group's brokerage firm, Reliance Shares and Stock Broking Private Ltd for violation of norms.
What must be worrying the mandarins in the North Block is that the reply of the finance ministry completely contradicts the decision of the SAT in the Goldman Sachs case. Surely we are in for interesting political times.
Market regulator Sebi had imposed a penalty of Rs 50 lakh (Rs 5 million) on V K Kaul -- who was a non-executive independent director of Ranbaxy Laboratories between January 2007 and December 2008 -- and a fine of Rs 10 lakh (Rs 1 million) on his wife Bala Kaul.
The Supreme Court Thursday asked NDTV promoters Prannoy Roy and Radhika Roy to give a statement on shares indicating the current market value which they would like to deposit as security with market regulator Sebi under the order of the Securities Appellate Tribunal (SAT).
The bench, which said that Sahara group must refund the amount by August 31 or face personal appearance, however, refrained from passing orders as the counsel for Roy pleaded that no such order be passed without hearing him and posted the case for hearing on July 24.
The government is likely to appoint more directors on the board of the crisis-ridden Satyam Computer Services soon. "More directors will be appointed within two days," a senior official of the Ministry of Corporate Affairs said.
The Securities Appellate Tribunal chief Justice Kumar Rajaratnam has resigned amid controversy over the UBS Securities case relating to the stock market crash last year.
The Supreme Court asked on Thursday market regulator Securities and Exchange Board of India and some stock brokers to file written submissions in a case relating to modification of penalty imposed on intermediaries.
When Sahara sought SAT's intervention against Sebi's orders, the tribunal said they will not.
In a partial reprieve to Manmohan Shetty, former chairman of media company Adlabs Films, the Securities Appellate Tribunal (SAT) on Friday lowered the penalty amount to Rs 25 lakh from Rs 1 crore for alleged violation of regulatory norms.
In a rare order, the Securities Appellate Tribunal on Thursday asked the Securities and Exchange Board of India to bear the costs amounting to Rs 100,000 in a case involving Goldman Sachs. A division bench of Justice N K Sodhi, Arun Bhargava and Utpal Bhattacharya imposed the penalty on the capital market regulator and set aside the adjudication order of September 8, 2006.
It said the amendments to the Sebi Act will facilitate utilising the services of officials appointed members of SAT as normally retired people join the body.
The bench directed the companies to place before it their 2010-11 balance sheets and statements of accounts for November 2011 by January 8, the next date of hearing.
HeidelbergCement has decided to move the Securities Appellate Tribunal challenging the directive of the Securities and Exchange Board of India.
Samir Arora, chief investment officer of Alliance Capital Fund, has filed a petition with the Securities Appellate Tribunal challenging Sebi's order barring him from dealing in capital market
The Securities Appellate Tribunal has adjourned the first hearing of National Securities Depository Ltd's appeal against Sebi's interim order on the IPO scam as the market regulator could not hire a senior counsel to argue its case.
Market regulator Securities and Exchange Board of India will soon appeal to the Supreme Court against the Securities Appellate Tribunal's order directing Chhabrias to make an open offer to shareholders of Herbertsons Ltd.
The affidavit was filed following a direction from the tribunal last Thursday.
The Securities Appellate Tribunal has suggested setting up of an Advance Ruling Authority in the capital market headed by a High Court Judge with its order binding on the Securities and Exchange Board of India.
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