Page 7 - Securities Appellate Tribunal

Franklin Templeton executive says Sebi exceeded authority in banning him

A senior executive of US money manager Franklin Templeton (FT) told an Indian appeals tribunal the country's market watchdog 'overstepped' its powers by banning him from the securities market

Share buyback case: SAT stays Sebi's penalties on Cairn India, others

The Securities Appellant Tribunal (SAT) has stayed the penalties imposed by markets regulator Sebi on Cairn India and others for making a misleading announcement regarding buyback of shares in 2014. While staying the penalties, the tribunal also directed Cairn India, which was merged with Vedanta Limited in 2017, and others involved in the case to deposit Rs 2.5 crore with Sebi within three weeks. If the amount is deposited, no further recovery will be made from them during the pendency of the appeal, the tribunal said in an order dated June 22. In May, the Securities and Exchange Board of India (Sebi) imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding the buyback of shares in 2014. Further, the regulator imposed a fine of Rs 15 lakh each on P Elango, who was the CEO and director of Cairn India, along with Aman Mehta and Neerja Sharma, who were directors of the company at the time of violation. According to the Sebi order, the buyback

SAT allows vote on Carlyle's Rs 4,000-crore infusion in PNB Housing

Results not allowed to be disclosed; Tribunal allows Tuesday EGM to go ahead

PNB Housing goes to SAT against market regulator's order on share transfer

SEBI has asked the company not to act on preferential allotment until an independent valuation of shares was done.

SAT pares Sebi's Rs 1 cr penalty on CARE Ratings to Rs 10 lakh; stock gains

The tribunal, however, has affirmed the order pertaining to lapses in assigning credit rating of Reliance Communications debentures

Franklin case: Meet Vivek & Roopa Kudva, the couple in Sebi's firing line

The Kudva family finds itself in an unfortunate position. But professionals have been forewarned after this incident

Franklin Templeton disagrees with Sebi order; to challenge direction in SAT

Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020

AT-1 bond mis-selling case: SAT gives interim relief to YES Bank

In April, Sebi had slapped a penalty of Rs 25 crore on it and 3 executives

SAT grants interim stay on Sebi's order against Yes Bank in AT-1 bond case

The Securities Appellate Tribunal (SAT) has granted an interim stay on markets regulator Sebi order that had slapped a penalty of Rs 25 crore on Yes Bank in a case of mis-selling AT-1 bonds. Apart from penalising Yes Bank, Sebi in its order in April, imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth management team, and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga. The two individuals were part of the private wealth management team at the time of the violation. Sebi alleged misrepresentation by the bank and certain officials for not informing investors of the risk involved while selling the AT -1 (Additional Tier-1) bonds in the secondary market. While granting interim relief to Yes Bank, SAT said it has "stayed the effect and operation of the impugned order". This is subject to an undertaking by Yes Bank that in the event of failure of the appeal, the lender would pay the penalty amount within two weeks from the date of the order, SAT s

NSE shares soar over 25% on boost from Securities Appellate Tribunal relief

The tribunal allows the exchange to use Rs 6,000 cr parked in an escrow

SAT rejects Sebi view, rules tribunal can function sans technical member

Requests government for faster filling up of vacancies, judicial clarity

Sebi objects to Securities Appellate Tribunal missing key member

Tribunal has taken opinion of senior counsel in the matter

Delisting issue: 'Reviewing court order,' says Schneider Electric

Company had approached Bombay High Court after stock market regulator's January order

Top headlines: Amazon to manufacture locally, SAT stays SEBI ban on Biyani

Amazon said it will begin making devices in India for the first time. More on that story and other headlines this evening.

SAT sets aside Sebi's penalty on SBI, Bank of Baroda, LIC in UTI AMC case

Sebi had in August levied the fine on the three firms for failing to reduce their stakes to below 10 per cent in UTI AMC within the stipulated timeline

SAT dismisses Shivinder Singh's plea against Sebi's loan recall order

SAT said Singh was a director and promoter in both the companies when the alleged diversion of funds took place

SAT issues notice to Sebi on appeal against order in STP matter: 63 Moons

Sebi said that 63 Moons has been offering STP services without its approval

Securities Appellate Tribunal stays Sebi's Rs 6-crore fine on NSE

The fine relates to NSE allegedly investing in six companies unrelated or non-incidental to the stock exchange business

SAT extends suspension of physical hearing till Dec 2 amid Covid-19

The Securities Appellate Tribunal (SAT) on Friday extended suspension of physical hearing till December 2 amid the coronavirus pandemic.

SAT quashes Sebi's order directing Prabhat Dairy to deposit Rs 1,292 crore

"The direction of the WTM to deposit a sum of Rs 1,292.46 crore is wholly arbitrary and has been passed without any application of mind," the tribunal said