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SAT disposes RIL appeal for documents from Sebi

The SAT will hear RIL appeal against Sebi decision to reject its consent settlement application on January 6.

Written by Press Trust Of India | Mumbai | December 24, 2013 2:20:00 am

The Securities Appellate Tribunal (SAT) has disposed off an appeal filed by Reliance Industries (RIL) against market regulator Sebi,after the market regulator agreed to provide certain documents to the corporate house for inspection in connection with a long-running insider trading probe.

The case relates to investigation into alleged insider trading violations in 2007 and another appeal by Reliance Industries in this matter is currently being heard by SAT against Sebi’s rejection to a consent settlement plea.

RIL had asked Sebi to furnish certain documents for inspection and it had filed a separate appeal after the regulator refused to share documents.

In a hearing on December 20,SAT “disposed of” this particular appeal after RIL decided not to press for the same as Sebi said it was ready and willing to furnish copies.

The SAT will hear RIL appeal against Sebi decision to reject its consent settlement application on January 6.

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