The Securities Appellate Tribunal (SAT), in its hearing today, has granted an interim injunction against the Securities Exchange Board of India (Sebi) order against promoter entities of Adani Exports.Sebi, in its order dated May 25 this year, had restrained Adani Agro, Adani Impex, Crown International, Shahi Property Developers, Adani Properties, Advance Exports and Intercontinental India from accessing the securities market, either directly or indirectly, and also prohibited them from buying, selling or otherwise dealing in securities, in any manner whatsoever, for a period of two years.The order was issued under sub-sections 11 and 11B of section 19, Sebi Act, 1992 and Sebi (PFUTP) Regulations 2003.The charges against the Adani promoters were that they aided and abetted KP entities manipulating the Adani scrip. The promoter entities appealed against the order and have, thereby, been granted temporary relief by SAT.
