SAT asks Sebi to fast track AstraZeneca delisting

The Securities and Appellate Tribunal (SAT) on Friday directed the market regulator to fast track the delisting case of Astrazeneca, which is pending with Securities and Exchange Board of India (Sebi) for the past year and a half.

The company's delisting plans had been pending as the regulator was probing an alleged collaboration between the company and the Elliot Group of investors. The probe is based on a complaint that was filed with Sebi.

In November 2014, minority shareholders of Astrazeneca had moved SAT over alleged collaboration between the company and the Elliot Group of investors.

SAT in the pronouncement has directed Sebi to finish the probe in coming six months.