SAT adjourns RIL plea against Sebi's disgorgement order till June 20

The Securities Appellate Tribunal (SAT) on Thursday adjourned hearing in the appeal filed by Reliance Industries (RIL) against the Securities and Exchange Board of India’s (Sebi’s) disgorgement order. The tribunal will hear the matter on June 20.

RIL has moved SAT against Sebi order, directing it to disgorge Rs4.5 billion made “unlawfully” by dealing in shares of its erstwhile subsidiary Reliance Petroleum (RPL).

On Thursday, senior counsel Harish Salve and Janak Dwarkadas appeared on behalf of RIL, seeking a stay on the Sebi order. 

The tribunal said it would hear both the parties on June 20.
 

SAT admitted RIL’s plea in May 2017,