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SAT stays Irdai order transferring Sahara's Life Insurance biz to SBI Life
In a big relief to Sahara India Life Insurance Co Ltd, the Securities Appellate Tribunal (SAT) on Tuesday stayed regulator Irdai's order directing the transfer of policy liabilities of around two lakh policies along with assets of Sahara Group firm to SBI Life Insurance Company. The order comes after Sahara India Life filed an appeal against an order passed by the Insurance Regulatory and Development Authority of India (Irdai). Irdai, in its order on June 2, ordered for transferring the entire business of Sahara India Life to SBI Life. Further, the books of accounts, bank accounts, etc were also been directed to be transferred. The decision was taken at the meeting of the Irdai given the deteriorating financial health of Sahara India Life. In its order on Tuesday, the appellate tribunal stayed "the effect and operation of the impugned order dated June 2, 2023, till further orders of this Tribunal". The matter is now listed for further consideration and arguments on August 3. Sahar
 "SAT stays Irdai order transferring Sahara's Life Insurance biz to SBI Life")
Colocation case: Sebi likely to challenge SAT's relief to NSE in SC
Legal experts cite 'inconsistencies' in Tribunal's order
 "Colocation case: Sebi likely to challenge SAT's relief to NSE in SC")
Videocon-ICICI loan case: SAT asks Sebi to provide documents to Kochhar
The Securities Appellate Tribunal (SAT) has asked capital markets regulator Sebi to provide certain documents pertaining to loans sanctioned by ICICI Bank to entities including Videocon Group to the private lender's former chief Chanda Kochhar. Directing Sebi to provide such documents, the tribunal said that denial of the documents sought for by the respondent (Sebi) was in "gross violation of the principles of natural justice". The matter pertains to an amended show cause notice issued by the regulator to Kochhar on the basis of an analysis of a report by retired Justice B N Srikrishna. The Srikrishna committee, which was tasked to probe the allegations of quid pro quo transactions in ICICI Bank, submitted its report to the lender in January 2019. The committee, in its report, observed that Kochhar violated bank policies and other rules and regulations. The board of the bank based on the report had decided to treat her resignation as 'termination for cause' under the bank's inter
 "Videocon-ICICI loan case: SAT asks Sebi to provide documents to Kochhar")
SAT gives relief to Brickwork Ratings, stays cancellation of licence
But keeps Sebi ban on taking up new clients
 "SAT gives relief to Brickwork Ratings, stays cancellation of licence")
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
 "Schneider-Sebi spat: Bombay HC redirects firm to SAT in delisting case")
LIVE updates: Minor blast outside Israel embassy in Delhi; few cars damaged
A low-intensity explosion happened near the Israel Embassy in Delhi. Further investigation underway. Stay tuned for Latest LIVE news
 "LIVE updates: Minor blast outside Israel embassy in Delhi; few cars damaged")
SAT stays order against Edelweiss broking, temporary relief for DHFL
Tribunal asks NSE and Edelweiss to submit replies on Rs 1.8 cr penalty slapped by the exchange on the broker; in DHFL case, Sebi told to halt recovery proceedings against the firm
 "SAT stays order against Edelweiss broking, temporary relief for DHFL")
Religare Finvest gets relief from appellate tribunal in fund diversion case
Tribunal pulls up Sebi for passing contradicting orders
 "Religare Finvest gets relief from appellate tribunal in fund diversion case")
Banks move SAT against NSDL's decision to transfer Karvy's securities
HDFC Bank had Rs 470 crore worth of shares pledged for Rs 300 crore of outstanding loans
 "Banks move SAT against NSDL's decision to transfer Karvy's securities")
Misuse of client funds: SAT asks Sebi to review order issued against Karvy
The Sebi counsel informed the tribunal about the forensic audit initiated against the brokerage
Federal-Mogul soars 16% after SAT upholds Sebi order on open offer price
SAT also dismissed such appeals stating it didn't find enough merit in dismissing the approach taken by Sebi to arrive at a fair valuation
 "Federal-Mogul soars 16% after SAT upholds Sebi order on open offer price")
SAT left with just one member; hearings in over 400 appeals on halt
At present, SAT has just one member CKG Nair, who is not a judicial member. As a result, functioning of SAT will remain virtually grounded until a new presiding officer takes charge.
 "SAT left with just one member; hearings in over 400 appeals on halt")
SAT lifts trading ban on 6 more companies
On Thursday, SAT had provided relief to J Kumar Infra and Prakash Industries
 "SAT lifts trading ban on 6 more companies")