Schneider-Sebi spat: Bombay HC redirects firm to SAT in delisting case

Court asks SAT to look at new appeal without being influenced by its earlier order of November 26, 2019; Sebi told not to take any coercive action against firm for three weeks

The Bombay High Court (HC) has directed Schneider Electric President Systems to approach the Securities Appellate Tribunal (SAT) afresh in its dispute with the Securities and Exchange Board of India (Sebi), which has asked the former to either delist its shares or list on a national stock exchange within six months.

The HC further said that SAT should look at this new appeal without being influenced by its earlier order dated November 26, 2019. The court also directed Sebi not to take any coercive action against the company for another three weeks.

"In the event the appeal is filed by