Live
- BJP releases ‘charge sheet’ against BJD govt
- District Nodal Officer Venkataramana announced the intermediate results
- She team that stopped child marriages
- Medical devices sector needs separate rules, says industry body AiMeD
- Andhra Paper declares lockout
- Opposition INDIA bloc working on 'one year, one PM' formula: PM Modi
- Delhi HC quashes FIR for outraging woman's modesty, orders man to assist Traffic Police for a month as settlement
- 'Apologise to families of farmers who committed suicide in Vidarbha', Amit Shah dares Sharad Pawar
- SC Collegium recommends appointment of a permanent judge in Chhattisgarh HC, extension of term of two judges
- U20 Men's football nationals: Telangana, Sikkim earn full points with easy win
Satyam scam: SAT sets aside Sebi's orders
SEBI
Appellate tribunal SAT on Thursday set aside Sebi's orders that had barred Satyam Computer's B Ramalinga Raju, B Rama Raju and others from the securities markets for up to 14 years and asked the markets regulator to pass a fresh order in the 14-year old case.
New Delhi: Appellate tribunal SAT on Thursday set aside Sebi's orders that had barred Satyam Computer's B Ramalinga Raju, B Rama Raju and others from the securities markets for up to 14 years and asked the markets regulator to pass a fresh order in the 14-year old case. The ruling came after two separate orders of the Securities and Exchange Board of India (Sebi) passed in 2018 were challenged by the six applicants.
The case relates to Ramalinga Raju and Rama Raju -- who were promoters and directors of Satyam Computer Services -- falsifying the company's financial statements and making illegal gains by way of insider trading. Besides, B Suryanarayana Raju and SRSR Holdings had allegedly dealt with shares of Satyam Computer on the basis of unpublished price sensitive information. The scam came to light on January 7, 2009, when Ramalinga Raju -- then Chairman of Satyam Computer -- admitted to manipulating the company's accounts. In its order passed on October 16, 2018, Sebi had prohibited V Srinivas and G Ramakrishna from the securities markets for 7 years.
