Page 2 - Securities Appellate Tribunal

CJI advises Sebi, SAT to be cautious, pitches for more tribunal benches

Chief Justice of India D Y Chandrachud on Thursday advised market regulator SEBI and the Securities Appellate Tribunal (SAT) to exercise caution amid a significant surge in equity markets and pitched for more tribunal benches to ensure that the "backbone is stable". Inaugurating the new SAT premises here, CJI Chandrachud pitched for authorities to consider opening up new benches of the SAT given the higher workloads because of higher quantum of transactions and newer regulations. Referring to newspaper articles calling the crossing of the 80,000 points milestone by the BSE as an ecstatic moment, where India is entering a "stratospheric domain", the CJI pointed out that such events emphasize the need for regulatory authorities to ensure that everyone holds their "balance and nerves" amid the wins. "The more you see the surge in the stock market, the greater the role, I believe, for SEBI and SAT, as institutions which will exercise caution, celebrate the successes but at the same time

SAT stays Sebi order against former PTC India CMD Rajib Kumar Mishra

The Securities Appellate Tribunal (SAT) has stayed a Sebi order that restrained former PTC India chairman and managing director Rajib Kumar Mishra from being a director in a listed entity for six months in a matter pertaining to corporate governance lapses. Following the order passed by markets regulator Sebi on June 12, Mishra ceased to be the chairman and non-executive director of PTC India Financial Services Ltd (PFS) and CMD of PTC India Ltd. PFS, promoted by PTC India Ltd, is a non-deposit-taking NBFC classified as an infrastructure finance company. Giving interim relief to Mishra SAT in its order on Friday, said, "The operation of the impugned order shall remain till the next date of hearing subject to deposit of 50 per cent of the penalty amount by the appellant with the Sebi within two weeks. The markets regulator, through its order, prohibited Mishra from "holding any position of director or key managerial personnel in any listed company or any intermediary registered with

SAT nixes Sebi order on Linde India, asks firm to appear for document check

Market regulator had asked NSE to do a valuation of the company and its related party transactions

Zee fund diversion case: Chandra suppressed material facts, Sebi tells SAT

The market regulator is investigating the alleged fund diversion by Chandra and his son Punit Goenka, who is also the managing director and chief executive officer of Zee

Subhash Chandra 'not cooperating' with investigation, says Sebi

SAT to hear the matter next on March 8, gives 10 days to Sebi to file reply

Supreme Court issues notice in Chitra Ramkrishna's dark fibre case

The court has directed Ramkrishna to deposit half of the Rs 25 lakh penalty to stay the operation of the SAT order. The case will likely be heard again in March

Market regulator Sebi rejects NSE's settlement plea in co-location matter

The market regulator refunded Rs 300 crore to the exchange following the directions by the Supreme Court in the same case

SC stays SAT order in shares pledged by Karvy Stock Broking to lenders

Sebi filed an appeal in the Supreme Court on December 30 last year against the SAT order of December 20

SAT refuses stay on market regulator Sebi's order against Brightcom

Sebi had also barred 21 others, including ace investor Shankar Sharma, from diluting their stakes in the company

Axis Bank-Karvy matter: SAT says Sebi has 4 weeks to restore pledged shares

The matter pertains to an appeal by several lenders to whom defaulter Karvy had pledged securities of its clients to the tune of Rs 1,400 crore

SAT reserves its order in Axis Bank-Karvy Stock Broking matter

Senior counsel representing Sebi argued that the regulator had filed an appeal before the Supreme Court on December 30 for a stay on the order

SAT quashes Sebi order on Future Corporate Resources, Kishore Biyani

In an order issued in February 2021, the market regulator had restrained them from accessing the securities market for different periods

Karvy broking case: SAT directs Sebi, NSE, NSDL to compensate lenders

Sebi, NSE, NSDL directed to compensate lenders for shares transferred with 10% interest

Streamlining the disciplinary process

There is a need for consistency in the adjudicating frameworks of Sebi and other market regulators to ensure fair financial market outcomes

Anugrah Stock & Broking case: SAT quashes Edelweiss Custodial appeal

SAT has upheld the order by the committee

Sebi chief deeply regrets failure to de-freeze shares in Kirloskar case

Sebi chief Madhabi Puri Buch on Friday said the capital markets regulator deeply regrets the failure to de-freeze the shares held by members of the Kirloskar family in Kirloskar Industries Ltd (KIL) despite the SAT's directive. "I think what happened in terms of delay in de-freezing accounts was unacceptable. Whatever have been the cause and root cause, communications with the depository etc., Sebi was responsible, Sebi was accountable, we deeply regret what happened," Buch told reporters at the sidelines of the CII Global Economic Policy Forum here. Further, she said that the Securities and Exchange Board of India (Sebi) has already initiated a full process review in this regard. "Within 30-45 days. We will revamp the process. So that risk of this happening again is completely minimised," she added. The comments came after the Securities Appellate Tribunal (SAT) pulled up Sebi on Monday for failing to de-freeze the shares held by members of the Kirloskar family in Kirloskar ...

SAT sets aside market regulator Sebi's order against IIFL Securities

Sebi alleged that IIFL Securities failed to segregate clients' funds and mixed its own funds with it

SAT partially upholds market regulator Sebi order in Deccan Chronicle case

In May 2022, Sebi had issued an order alleging manipulation in financials, lapses in buyback procedures, and failure to submit disclosures on material information

Relief for Zee Entertainment's Punit Goenka as SAT sets aside Sebi's order

With this, Goenka can now be appointed as the Managing Director (MD) of the merged entity

SAT reserves decision on Punit Goenka's appeal against Sebi order

Sebi counsel assures court of completing part investigation by November