Page 4 - Securities Appellate Tribunal

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SAT adjourns Zee Entertainment-Sebi matter; next hearing on Tuesday

Refuses to take on record additional affidavit filed by Sebi in the matter

Top headlines: Byju's sacks staff, Zee Ent terms Sebi's order unjustified

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SAT to take up Zee Ent promoter plea against Sebi order on June 15

'Principles of natural justice' not followed, say legal representatives

SAT quashes 'unjustified' Sebi order nixing Brickwork Ratings licence

Directs regulator to issue fresh order on penalty while upholding certain violations

SAT stays ban on Samir Jain, wife, and six others in PNB Finance case

In two separate orders, Sebi alleged that PNBFIL and CCIL did not make adequate disclosures about their promoter entities

SAT reduces Sebi's penalty on former Maars Software MD to Rs 10 lakh

The Securities Appellate Tribunal (SAT) has slashed the penalty imposed on the former MD of Maars Software International to Rs 10 lakh from Rs 1 crore in a case related to manipulation in the issuance of global depository receipts. Maars Software International Ltd (MSIL) came out with a global depository receipts (GDRs) issue on August 10, 2007. Pravin Champalal Jain was the former managing director of MSIL. "While affirming the order of Sebi's Adjudicating Officer (AO) for the violations committed by the company, we reduce the penalty from Rs 1 crore to Rs 10 lakhs. "In our opinion, the penalty imposed is excessive and disproportionate to the violation and is also discriminatory," the tribunal said in its ruling on Tuesday. The verdict came after Jain challenged the order passed by Sebi in July 2020. Sebi's AO had imposed Rs 10.25 crore on MSIL, Rs 1 crore on Jain and Rs 10 lakh each on Harshawardhan S Rathore and Nikunj Babulal Choradiya for flouting Prohibition of Fraudulent a

SAT reserves Sebi order against Arshad Warsi in pump-and-dump case

The regulator had barred the actor and his wife for manipulation of Sadhna Broadcast shares via YouTube videos

Reconsider Satyam order: Securities Appellate Tribunal to Sebi

Regulator had fined Ramalinga Raju, others and banned them from market for 14 yrs

Latest SAT relief colocation matter to free up Rs 1,000 cr for NSE

Tribunal prunes penalty on bourse from Rs 1,100 cr to just Rs 100 cr; Sebi told to refund excess amount in six weeks along with interest

Deficient regulation

Sebi needs capacity to protect investor interests

NSE, ex-chiefs Ramkrishna, Narain get SAT relief in colocation case

Tribunal directs NSE to pay Rs 100 crore penalty for failing to follow due diligence. Legal representatives said that findings against NSE have been partially set aside

SAT sets aside Sebi's order to impose penalty on Bhushan Steel for lapses

The Securities Appellate Tribunal (SAT) has set aside a Sebi's order to impose a Rs 2 lakh penalty on Bhushan Steel Ltd, now known as Tata Steel BSL Ltd, for disclosure lapses. Bankruptcy proceedings were initiated against the debt-laden Bhushan Steel Ltd in July 2017. After completing the corporate insolvency resolution process (CIRP), Bhushan Steel was taken over by Tata Steel Ltd in 2018. "The impugned order dated 14 February 2022, cannot be sustained and is quashed. However, it would be open to the respondent Sebi to issue a show cause notice for the alleged violation against the entity," SAT said in an order passed on December 20. The ruling comes after an appeal was filed against the Sebi order, levying a Rs 2 lakh fine on Bhushan Steel for not making the requisite disclosure under LODR (Listing Obligations and Disclosure Requirements) rules. It noted that the appellant was found guilty of non-disclosure of the number of investor complaints filed with the stock exchanges on a

NSEL scam: Sebi bans five major commodity brokers for six months

The brokers had appealed to the Securities Appellate Tribunal (SAT) against a previous order by Sebi issued in 2019

Bombay Dyeing moves SAT against Sebi's Rs 2.25 cr fine, two-year market ban

Sebi had passed the order on the firm, its promoter Nusli N Wadia, and three others for allegedly inflating financial statements; firm responded saying its accounting practice was wrongly interpreted

Analysts positive on Bank Nifty, advise picking up stocks on dips

Bank Nifty index has been outperforming the benchmark Nifty. It has gained 4% in the past one month and 16% YTD. In comparison, Nifty is up less than 2% both on a one-month and YTD basis

Wadias, BDMCL likely to file appeal before SAT against Sebi order

Sebi has charged the violators under the Prevention of Fraudulent and Unfair Trade Practices Regulations for alleged misrepresentation of financial statements

A family at war: Kirloskar siblings await SC judgement on arbitration

The Kirloskars are fighting a legal war over group assets with Sanjay Kirloskar chairman of Kirloskar Brothers Ltd on one side, and his brothers, Atul, 66, and Rahul, 59, on the on the other side

New twist to rivalry as Kirloskar siblings trade charges over legal fees

Sanjay Kirloskar-led Kirloskar Brothers Ltd refutes claim made by siblings Atul and Rahul that the firm paid Rs 274 crore in professional and legal expenses

Kirloskar promoters get a breather in the insider trading case

The three-member SAT bench dismissed Sebi's argument that certain entities gained undue advantage of any UPSI