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The Securities Appellate Tribunal (SAT) has fixed August 8, as the next date of hearing in the Vaswani Industries case. While admitting the prayer by Vaswani Industries on Friday, the Tribunal said that status quo should be maintained until then.
The case pertains to Vaswani Industries moving the SAT against the SEBI's direction to the company to give a withdrawal option to HNIs and retail investors.
SEBI had also asked stock exchanges to withhold the listing of Vaswani Industries following complaints of irregularities in subscription, especially huge withdrawals and rejections after IPO closure.
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