Securities And Appellate Tribunal

Jane Street told SAT Sebi ignored its own surveillance report and sought access to NSE communications and regulator emails in the ₹4,840-cr case

Securities Appellate Tribunal was without a presiding officer or a judicial member for three months

Number of complaints dipped 14 per cent month-on-month

In the same order, issued in August 2023, Chandra's son Punit Goenka was granted relief by the tribunal

The Securities and Appellate Tribunal (SAT) is waiting for the appointment of a new judicial member as presiding officer

The Securities Appellate Tribunal (SAT) on Wednesday quashed regulator Sebi's order banning Future Retail chairperson Kishore Biyani and some other promoters from the securities market for one year in an insider trading case. Dismissing the Sebi's order, the appellate tribunal said that the entities did not trade in the shares of Future Retail Ltd (FRL) on the basis of unpublished price sensitive information (UPSI) relating to demerger as such information was already in public domain through multiple media reports. "We are satisfied that the information relating to de-merger was already in the public domain and, therefore, trading done by the appellants in the shares after the publication of the interviews and news reports cannot be considered as trading while in possession of UPSI. Thus, the charge in the show cause notice fails and the findings given by the WTM cannot be sustained. The impugned order is quashed," a bench comprising Presiding Officer Tarun Agarwala and Technical ...

The Securities Appellate Tribunal (SAT) on Wednesday quashed a Sebi order imposing a penalty of Rs 7 lakh on Jio Financial Services Ltd in case of alleged manipulation in certain trades in long-dated Nifty options in 2017. Earlier this year, Reliance Industries Ltd (RIL) demerged its financial services undertaking into Reliance Strategic Investments Ltd (RSIL) and renamed it as Jio Financial Services Ltd (JFSL) -- formerly known as Reliance Strategic Investments Ltd. The case pertains to certain trades in long-dated Nifty options between Reliance Strategic Investments and Morgan Stanley France SA done back in 2017. The order came after the Reliance group company approached the appellate tribunal against an order passed by Securities and Exchange Board of India (Sebi) in June 2017. In the order, the regulator levied a fine of Rs 7 lakh on the company. Setting aside the Sebi's order, a bench consisting of Justice Tarun Agarwala and Presiding Officer Meera Swarup, said the regulator h

The Securities Appellate Tribunal (SAT) on Wednesday quashed the order passed by Sebi imposing a fine of Rs 65 lakh on Apollo Tyres for violating norms pertaining to buyback of shares back in 2003. Dismissing the regulator's directive, the appellate tribunal has directed the Securities and Exchange Board of India (Sebi) to refund the penalty amount deposited by Apollo Tyres within four weeks, according to the SAT order. The present appeal was filed against the Sebi's order passed in November, 2018 that levied a penalty of Rs 65 lakh on Apollo Tyres for violation of buyback rules. It was alleged that shares of Apollo Tyres were bought back by the company and its promoters in contravention of the relevant section of the Companies Act and Sebi regulations. The violations were allegedly committed by the company in 2003. According to Sebi, Apollo Tyres did not follow any of the methods for repurchase of shares as specified under the buyback regulation. Under the Regulation 4(1) of buyb

The Securities Appellate Tribunal (SAT) on Friday postponed to September 13 the final hearing on a plea challenging a SEBI's confirmatory order that barred Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra from holding any key positions in the company and other organisations. After hearing rejoinders from counsels Abhishek Manu Singhvi and Navroz Seervai, representing Goenka and Chandra, SAT said it will continue the hearing on September 13. SAT further stated that on September 14, it will hear Goenka and Chandra's rejoinders. In his rejoinder, Singhvi said that SEBI passed the confirmatory order without concluding the investigation and is based on mere speculation. The market regulator had no evidence beyond the bank statements to prove the allegations of round-tripping of funds, he added. SEBI's confirmatory order bars Goenka and Chandra from holding any directorship or other key managerial positions in the company and other organisations. Singhvi also said the Se

Tribunal hears Punit Goenka's appeal, to hear case for final decision on Sept 8

The Zee Ent promoter has been barred holding key positions in four group firms and merged entity

Tribunal orders Sebi to refund penalty of Rs 25 crore within four weeks

After hearing arguments from the senior counsels of Zee promoters and Sebi, SAT had reserved its order in the case on June 27

The statement comes after the capital markets regulator Sebi on Monday barred IIFL Securities from onboarding new clients for two years for alleged mis-utilisation of client funds

In affidavit to SAT, regulator says move taken to safeguard management, protect investors and stakeholders

Tribunal asks markets regulator to file reply within 48 hour, posts matter for June 19

India's markets appeals tribunal set aside a ruling by the markets regulator cancelling the licence of Brickwork Ratings India, according to an order published on the tribunal's website

In its order, Sebi had directed the Warsis to deposit Rs 76.33 lakh, which has now been reduced by SAT to Rs 38.16 lakh

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Tribunal stays order restraining company and promoters from capital markets for 2 years