Financial Daily from THE HINDU group of publications
Friday, Sep 06, 2002

Port Info

Group Sites

Markets - Regulatory Bodies & Rulings

SAT dismisses petition in Amara Raja case

Our Bureau

MUMBAI, Sept. 5

THE Securities Appellate Tribunal (SAT) has dismissed a petition of Mr Harinarayan Bajaj seeking information possessed by Securities and Exchange Board of India (SEBI) in a case relating to alleged price manipulation in the Amara Raja Batteries scrip in March 2001.

SEBI has issued a show-cause notice to Mr Bajaj in the case.

In an order passed today, Mr C. Achuthan, Presiding Officer, SAT, said the information Mr Bajaj sought from SEBI in no way concerned the show-cause notice issued to him by the regulator in the Amara Raja case. Dismissing the petition, Mr Achuthan said Mr Bajaj appeared to be more concerned with pursuing a course of action and for that purpose he required material and tapped SEBI as the source.

"It is also evident that (Mr Bajaj) needs the particulars to use in arbitration claims filed against him. His requirements for those purposes are understandable. But here the question relates to the supply of information with reference to the show cause notice holding specific charges," he said.

The Tribunal added that Mr Bajaj gave the impression that he wanted the scope of the enquiry to be expanded.

Send this article to Friends by E-Mail

Stories in this Section
No deduction of tax on US-64 dividend

DSP-ML mops up Rs 340 cr through short-term fund
Bulls prevail
Kania report fallout — CSE staff urge SEBI to allow NSE hubs
Steel stocks Jindal, Essar edge up on block deals
Nestle at new high on parent buying
Hexaware surges on German order
An identity confusion
No trading in Nifty futures on Singapore Exchange
Reliance Sept 260 puts: Risky but profitable?
SEBI panel for T+1 from Dec 2 for institutions
SAT dismisses petition in Amara Raja case
Infosys gain keeps markets in positive territory
Applications worth Rs 1,458 cr for Union Bank IPO

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line