SAT adjourns RIL insider trading case till Nov 15

The Securities Appellate Tribunal (SAT) on Monday put off the hearing in Reliance Industries’ appeal against Sebi in the 2007 insider-trading case to November 15. At the last hearing on October 11,SAT had suggested Sebi to consider the RIL application for a consent settlement that allows companies and individuals to settle disputes by paying a […]

Written by PTI | Mumbai | Published: November 12, 2013 1:31:26 am

The Securities Appellate Tribunal (SAT) on Monday put off the hearing in Reliance Industries’ appeal against Sebi in the 2007 insider-trading case to November 15.

At the last hearing on October 11,SAT had suggested Sebi to consider the RIL application for a consent settlement that allows companies and individuals to settle disputes by paying a fine without admission or denial of the alleged wrongdoing.

Earlier in the day on Monday,the tribunal adjourned the hearings after the RIL side said that their senior counsel Janak Dwarakadas would be present for the afternoon hearing. But since Dwarakadas could not make it on time,the SAT adjourned the case for next Friday,saying it would like to hear the case from him.

Sebi lawyer Darius Khambata said the regulator has already given RIL the three documents it had sought for inspection related to the alleged insider trading probe.

SAT has been hearing the appeal filed by RIL against Sebi in the insider-trading case related to its erstwhile arm Reliance Petroleum dating back to 2007.

For all the latest News Archive News, download Indian Express App

Advertisement
Advertisement
Advertisement
Advertisement