Relief for HDFC Bank as SAT stays Sebi directive on Rs 160 cr transfer

Matter pertains to BRH Wealth Kreators share-pledge fiasco; SAT cites lender's financial strength while asserting it won't run away or become insolvent

The Securities Appellate Tribunal (SAT) has granted relief to HDFC Bank by staying on an order issued by markets regulator Sebi, which directed the lender to transfer over Rs 160 crore in the matter pertaining to BRH Wealth Kreators’ share pledging.

“We find that the appellant is one of the largest private sector bank and as per balance sheet, it has assets worth Rs 1,654,228 crore and, therefore, has sufficient financial strength and ability to furnish the amount as per the impugned order. It is not a case where the bank will run away or will become insolvent. We accordingly stay