SAT adjourns hearing on Shankar Sharma case till 27th January

SAT has adjourned the hearing on a petition by brokerage house First Global's Shankar Sharma against a SEBI order banning him from trading in markets for his alleged role in manipulating prices of certain shares

The Securities Appellate Tribunal (SAT) on Friday adjourned the hearing on a petition by brokerage house First Global's Shankar Sharma against a SEBI order banning him from trading in markets for his alleged role in manipulating prices of certain shares, till 27th January.

"On the request of counsels from both the sides the case has been adjourned till 27th January," presiding officer, Justice NK Sodhi, said in Mumbai today.

Earlier, SAT had deferred the hearing on the case till 15th January and asked market regulator SEBI to reply to a review petition filed by Mr Sharma, the vice chairman and managing director of the brokerage house, before the hearing.

Mr Sharma had filed a review petition on 25th November on SAT's ruling upholding SEBI's ban order, on the grounds that there are certain errors in the records and arguments in the order of the appellate authority.

SEBI has found Mr Sharma guilty of synchronising trade in certain shares which resulted in creation of artificial volumes in those shares.
 

  • Like this story? Get our top stories by email.

    User 

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    28 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)