Page 8 - Securities Appellate Tribunal

Pass fresh order in Religare Finvest's fund diversion matter: SAT to Sebi

SAT has directed RFL to maintain its assets worth Rs 200 crore for a period of three months

SAT denies relief to Axis Bank in Karvy case, asks it to approach Sebi

Lender had approached tribunal seeking shares pledged by Karvy to it be unfreezed, saying the clients who owned the securities owed money to Karvy and therefore the pledge was good in law

BMA clients demand relief from SAT, stage protests outside Sebi office

Their complaint stated about 45,000 investors had been affected by the alleged fraud

Co-location case: Sebi needs to prove basis for disgorgement, NSE tells SAT

The counsel argued that the exchange should have also been given chance to explain its position on the disgorgement order

No question of turf wars, working in the interest of investors: Sebi chief

In November, the Supreme Court stayed a SAT order which had held that Sebi does not have the power to bar auditors

SAT asks NSE to take a decision on Karvy's licence suspension by Friday

This comes after Karvy moved to SAT against the NSE's directive which suspended the broker's licence on Monday due to non-compliance of regulatory provisions of the exchange

Karvy Stock Broking moves SAT against Sebi order; hearing on Friday

Karvy will be represented by Vikram N of Visesha Law Services, according to the cause list put out by SAT.

PwC-Satyam case: SC restores Sebi's power to restrain erring auditing firms

The apex court move comes as a big relief to Sebi as the SAT order had led to jurisdictional ambiguity

Reliance Petroleum case: RIL begins arguments against Sebi order at SAT

Sebi ruling was related to alleged fraudulent trading in the F&O space in the securities of Reliance Petroleum

Reliance Petroleum case: SAT to hear RIL plea against Sebi order on Nov 13

The Securities Appellate Tribunal on Wednesday is likely to hear an appeal by Reliance Industries Ltd against a Sebi order that had barred the company and 12 of its promoter group entities from dealing in equity derivatives. The watchdog had barred the company and the entities for alleged unfair trade practices related to the securities market. Through an order on March 24, 2017, Sebi had also directed RIL to disgorge Rs 447 crore along with interest. The total amount of disgorgement, including interest, was around Rs 1,952 crore. SAT would hear RIL's appeal against the Sebi ban on Wednesday, as per the tribunal's cause list. Noted lawyer Harish Salve would be appearing for RIL. The case dates back to March 2007, when Mukesh Ambani-led RIL decided to sell 5 per cent stake in Reliance Petroleum, a listed subsidiary which was later merged with RIL in 2009. Sebi ruling was related to alleged fraudulent trading in the F&O space in the securities of Reliance Petroleum. RIL and the 1

Insider trading case: SAT lifts market ban on former CMD of Gammon Infra

In July 2014, Sebi had barred Rajan after finding him guilty of trading in shares on the basis of unpublished price sensitive information

Sebi moves Supreme Court against SAT's order in Price Waterhouse case

Many believe the SAT order has cast doubt over Sebi's regulatory turf and whether it has the power to impose strictures against auditors

Gaps, overlaps, traps and mishaps

The SEBI-SAT standoff is expected to end up in the Supreme Court

When the regulator is the violator

Obedience of court rulings vital for ease of doing business

SAT gives four weeks to NSE, ex-officials to file reply in co-location case

NSE and the people punished, challenged the order at the SAT on May 21

SAT quashes Sebi's order against Price Waterhouse in Satyam scandal

The scandal involving overstatement of bank and cash balances by over Rs 3,300 cr had come to light in January 2009

Number of pending appeals at Securities Appellate Tribunal rise 70% in FY19

The ratio of appeals dismissed to those decided in favour of Sebi shows a decline. There were 18 appeals in favour of Sebi for every order passed against it in FY18. The ratio has since dropped to 5.5

When a tribunal gets benched

If one were to run state agencies efficiently, there simply cannot be an absence of advance planning to ensure the tribunals we create are also well-manned by judges

Atkins Special Risks case: SC stays SAT order against Irdai member

SAT was cautious in its order, saying they had clearly not expressed any opinion on the merit of the complaint filed by appellant

SAT sets aside Irdai order to transfer Sahara's insurance business

The administrator's order was not submitted to Sahara Life Insurance, which according to SAT, was breach of justice