 "sebi")
The Securities Appellate Tribunal (SAT), on Friday, set aside orders passed by the Securities and Exchange Board of India (Sebi) for alleged violation of insider trading regulations at the Kirloskar group of companies.
In October 2020, Sebi passed separate orders against over a dozen individuals and entities belonging to the group, asking them to cough up Rs 31 crore in penalty and disgorgement for dealing in shares while in possession of unpublished price sensitive information (UPSI).
The three-member SAT bench dismissed Sebi’s argument that certain entities gained undue advantage of any UPSI. It held that there was no UPSI and hence no
