The Securities and Exchange Board of India (Sebi) is planning to file a statutory appeal challenging the August 1, 2003, order of the Securities Appellate Tribunal (SAT), which directed Kishore Chhabria to make an open offer for an additional 20 per cent stake in Herbertsons Ltd.
The last date for filing the appeal is September 30. According to the Sebi Act, 1992, an aggrieved party has up to 60 days to file such an appeal.
In its counter affidavit to the Supreme Court when it was summoned in Herbertsons case, Sebi said:
