Page 3 - Securities Appellate Tribunal

SAT stays Biocon insider trading order

Sebi had directed Allegro Capital and its owner Kunal Kashyap to disgorge Rs 25 lakh for allegedly dealing in shares of Biocon while in possession of price sensitive information.

SAT gives split verdict in Sebi-PNB Housing case; interim order to continue

Sebi's main contention was that it had power to regulate transfer of securities under section 24 of the Companies Act

Split verdict in Sebi-PNB Housing case underscores SAT's exigency

The tribunal lacks a third member to fall back upon, thus putting the PNB Housing plea in a limbo

Top headlines: Cloudtail to stop operations; Oyo gets IPO process going

Business Standard brings you the top headlines this evening

BoR insider trading case: SAT dismisses appeals against Sebi order

SAT dismissed appeals of seven entities, including former promoters, against a Sebi order that barred them from securities market in case of alleged insider trading in Bank of Rajasthan.

SAT allows Franklin Trustee, staffers to deposit 50% of penal amount

Tribunal says balance will not be collected till pendency of appeal

No new debt scheme till SAT decides our plea, Franklin Templeton tells SC

Franklin Templeton Asset Management told the Supreme Court on Monday that it will not launch any new debt scheme till SAT decides its appeal against market regulator Sebi's order

PNB Housing Finance vs Sebi: Mystery of the Articles of Association

The rigmarole over the valuation of a preferential share allotment has raised a confusing question on the status of a company's Articles of Association

LIC Housing Fin approaches SAT in regard to preferential shares allotment

LIC Housing Finance has approached Securities Appellate Tribunal with regard to company's proposal of allotting over 4.5 crore preferential shares to its parent company LIC

Franklin Templeton complies with conditions prescribed in SAT order

Franklin Templeton Asset Management (India) has said that it has complied with the conditions prescribed by SAT in its order pertaining to the restrictions imposed by Sebi on the fund house.

PNB Housing to SAT: Sebi can't compel us as AoA is just a contract

It argued that AoA cannot override the Sebi's ICDR (Issue of Capital and Disclosure Requirements) regulations, which listed firms have to follow for issuing preferential allotments

SAT to hear matter on PNB Housing Finance-Carlyle deal next week

The Securities Appellate Tribunal (SAT) will hear the case related to the PNB Housing Finance-Carlyle deal next Monday. The order in the matter was expected on July 5, however, it was adjourned for July 12. PNB Housing had filed an appeal before the SAT against the letter issued by the Securities and Exchange Board of India last month, requesting it not to go ahead with the proposal until due diligence was done. "As sought by the company, the Securities Appellate Tribunal, in its hearing on July 5, 2021, adjourned the case for Monday, July 12, 2021," PNB Housing Finance said in a regulatory filing on Tuesday. Under the deal announced on May 31, the US-based Carlyle, alongside other investors, is slated to infuse Rs 4,000 crore capital into PNB Housing through the issuance of preference shares and warrants. However, the deal has come under the scanner of the regulator. The company was directed to carry out the valuation process of shares as per the relevant legal provisions. PNB .

SAT stays Sebi ban on Franklin Templeton's Vivek Kudva, wife

Securities and Exchange Board of India, last month, imposed a market ban on the couple for redeeming units of Franklin Templeton Mutual Fund (MF) schemes while in possession of non-public information

Franklin Templeton executive says Sebi exceeded authority in banning him

A senior executive of US money manager Franklin Templeton (FT) told an Indian appeals tribunal the country's market watchdog 'overstepped' its powers by banning him from the securities market

Share buyback case: SAT stays Sebi's penalties on Cairn India, others

The Securities Appellant Tribunal (SAT) has stayed the penalties imposed by markets regulator Sebi on Cairn India and others for making a misleading announcement regarding buyback of shares in 2014. While staying the penalties, the tribunal also directed Cairn India, which was merged with Vedanta Limited in 2017, and others involved in the case to deposit Rs 2.5 crore with Sebi within three weeks. If the amount is deposited, no further recovery will be made from them during the pendency of the appeal, the tribunal said in an order dated June 22. In May, the Securities and Exchange Board of India (Sebi) imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding the buyback of shares in 2014. Further, the regulator imposed a fine of Rs 15 lakh each on P Elango, who was the CEO and director of Cairn India, along with Aman Mehta and Neerja Sharma, who were directors of the company at the time of violation. According to the Sebi order, the buyback

SAT allows vote on Carlyle's Rs 4,000-crore infusion in PNB Housing

Results not allowed to be disclosed; Tribunal allows Tuesday EGM to go ahead

PNB Housing goes to SAT against market regulator's order on share transfer

SEBI has asked the company not to act on preferential allotment until an independent valuation of shares was done.

SAT pares Sebi's Rs 1 cr penalty on CARE Ratings to Rs 10 lakh; stock gains

The tribunal, however, has affirmed the order pertaining to lapses in assigning credit rating of Reliance Communications debentures

Franklin case: Meet Vivek & Roopa Kudva, the couple in Sebi's firing line

The Kudva family finds itself in an unfortunate position. But professionals have been forewarned after this incident

Franklin Templeton disagrees with Sebi order; to challenge direction in SAT

Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020