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This is an archive article published on April 9, 2013

Consent case: SAT seeks details from Sebi,RIL

The Securities Appellate Tribunal SAT has directed Sebi to file a written reply within four weeks in the matter related to the probe of insider trading charges against Reliance Industries

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The Securities Appellate Tribunal SAT has directed Sebi to file a written reply within four weeks in the matter related to the probe of insider trading charges against Reliance Industries RIL.

A tribunal bench,comprising presiding officer PK Malhotra and member Jog Singh,posted the matter for hearing on June 14 after the advocate general of Maharashtra,Darius Khambatta,representing Sebi,said it will file a reply mentioning the grounds on which it is opposing RILs plea.

RIL moved the tribunal after Sebi rejected its consent application to settle an insider trading matter. RIL has also challenged Sebis refusal to provide documents based on which a show-cause notice was issued to the company. While RIL has challenged Sebis decision of rejecting its application for settling the case through the consent route,Sebi has said it has the right to decide on any consent application. FE

Sebi rejects consent plea of Ramsarup Industries

Mumbai: Sebi has rejected consent applications of Ramsarup Industries,its top executives and promoter entities,to settle proceedings against them for alleged insider trading and violations of model conduct code. PTI

 

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