The Hindu Business Line : SAT summons DSQ Software chief

THE Securities Appellate Tribunal (SAT) has directed that Mr Dinesh Dalmia must be present for the hearing of appeal filed against SEBI order in the DSQ Software case and must produce a valid power of attorney if their appeal has to be admitted.

Mr Dalmia, Managing Director, DSQ Software Ltd had filed an appeal to SAT against a SEBI order, issued in September this year. SEBI, in its order, had asked Mr Dalmia to buy back 1.3 crore `irregular' DSQ Software shares, introduced into the secondary market system in 2000-01 without listing. The order also directed Mr Dalmia to deposit Rs 630 crore in an escrow account and was also debarred from accessing the securities market for ten years.

SAT has posted the appeal to December 9 and asked for the physical presence of Mr Dalmia for the same.

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