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The Securities Appellate Tribunal (SAT) has adjourned the hearing of Reliance Industries' appeal against the Securities and Exchange Board of India (Sebi) in relation to an insider trading charge, following a joint request for adjournment made by lawyers for both parties.
The matter is next to be heard on 30th August.
The case pertains to alleged insider trading in the shares of erstwhile subsidiary Reliance Petroleum in 2007.Reliance moved the tribunal after Sebi refused to settle the matter through the consent mechanism, which would involve a monetary settlement without admitting or denying charges.
