Page 9 - Securities Appellate Tribunal
Securities Appellate Tribunal defers Sebi- Price Waterhouse hearing
On January 10, Sebi banned PW from providing audit services to listed companies and market intermediaries for two years for its alleged involvement in the Satyam fraud case
 "Securities Appellate Tribunal defers Sebi- Price Waterhouse hearing")
Securities Appellate Tribunal will get new bench in Delhi
A new bench of the Securities Appellate Tribunal (SAT) might be established and begin operation this year. The only bench at present is in Mumbai. The idea was proposed in the Union Budget last year, of amending the Sebi Act of 1992 to enable more benches, to expedite decisions on cases pertaining to the securities markets. The proposed bench is expected to deal with matters pertaining to companies based out of the northern states. There will be a judicial member and technical member, beside support staff. The bench in Mumbai has a presiding officer and two other members. Apart from appeals against decisions of the Securities and Exchange Board of India (Sebi), the appellate body has begun hearing appeals against orders issued by the insurance and pensions regulators, from 2015. As a result, the number of cases are likely to increase in the coming months."On an average, the tribunal takes about a year to dispose of cases. A new bench will help," said R S Loona, partner at Dhaval ...
 "Securities Appellate Tribunal will get new bench in Delhi")
Investor body petitions SAT on bourse's mass delisting last year
Midas Touch Investors Association has petitioned the Securities Appellate Tribunal (SAT), challenging the BSE exchange's delisting last year of several companies.It has alleged the delisting did not follow procedures laid down by the Securities and Exchange Board of India (Sebi). It wantse SAT to set aside the decision to delist 194 companies and restrain BSE from further delisting without following the procedure prescribed in the Sebi (Delisting of Equity Shares) Regulations. The plea will come up for admission before the SAT on Friday. In August, the BSE published a list of 194 companies in newspapers, delisted for remaining suspended seven years or more. It also gave the fair value to be paid to the public shareholders for each of these. However, for most of these companies, it did not know who the promoters are, making market participants wonder how these orders would be enforced. According to the detailed public notices, the column under the ...
 "Investor body petitions SAT on bourse's mass delisting last year")
