Page 6 - Securities Appellate Tribunal

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In July 2014, Sebi had barred Rajan after finding him guilty of trading in shares on the basis of unpublished price sensitive information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

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 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 ...

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 ...