SAT to hear RIL' appeal against Sebi today

The Securities Appellate Tribunal will hear on Friday Reliance Industries Ltd’s (RIL) appeal against the Securities and Exchange Board of India (Sebi) in a case related to rejection of a settlement plea filed by the corporate major with the market regulator.

RIL 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.