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IndiaPosted at: Feb 14 2020 9:40PM


SAT dismisses SEBI order to impose penalty of Rs 1 cr on Falcon Tyres

New Delhi, Feb 14 (UNI) In a major turn of events, Securities Appellate Tribunal dismissed the Securities and exchange board of India (SEBI) order to impose a penalty of Rs 1 crore on Falcon Tyres Ltd and other appellants.
The decision was made in response to an appeal filed by the appellants, after being aggrieved by the order of the adjudicating officer earlier.
Having heard both the sides, SAT said that the impugned order suggests that the adjudicating officer was irked by the act of Falcon Tyres Limited of repeatedly taking stand of non-supply of documents which were not relevant in the present matter. It also said that the manner in which the appellants had conducted themselves in the case had caused certain discomfort to the adjudicating officer.
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