SAT

Legal experts cite 'inconsistencies' in Tribunal's order

The Securities Appellate Tribunal (SAT) has asked capital markets regulator Sebi to provide certain documents pertaining to loans sanctioned by ICICI Bank to entities including Videocon Group to the private lender's former chief Chanda Kochhar. Directing Sebi to provide such documents, the tribunal said that denial of the documents sought for by the respondent (Sebi) was in "gross violation of the principles of natural justice". The matter pertains to an amended show cause notice issued by the regulator to Kochhar on the basis of an analysis of a report by retired Justice B N Srikrishna. The Srikrishna committee, which was tasked to probe the allegations of quid pro quo transactions in ICICI Bank, submitted its report to the lender in January 2019. The committee, in its report, observed that Kochhar violated bank policies and other rules and regulations. The board of the bank based on the report had decided to treat her resignation as 'termination for cause' under the bank's inter

But keeps Sebi ban on taking up new clients

Court asks SAT to look at new appeal without being influenced by its earlier order of November 26, 2019; Sebi told not to take any coercive action against firm for three weeks

A low-intensity explosion happened near the Israel Embassy in Delhi. Further investigation underway. Stay tuned for Latest LIVE news

Tribunal asks NSE and Edelweiss to submit replies on Rs 1.8 cr penalty slapped by the exchange on the broker; in DHFL case, Sebi told to halt recovery proceedings against the firm

Tribunal pulls up Sebi for passing contradicting orders

HDFC Bank had Rs 470 crore worth of shares pledged for Rs 300 crore of outstanding loans

The Sebi counsel informed the tribunal about the forensic audit initiated against the brokerage

SAT also dismissed such appeals stating it didn't find enough merit in dismissing the approach taken by Sebi to arrive at a fair valuation

At present, SAT has just one member CKG Nair, who is not a judicial member. As a result, functioning of SAT will remain virtually grounded until a new presiding officer takes charge.

On Thursday, SAT had provided relief to J Kumar Infra and Prakash Industries