Avantha Group’s Gautam Thapar has moved the Securities Appellate Tribunal (SAT) against the order passed by the Securities and Exchange Board of India (Sebi), which barred him from the capital market for his alleged involvement in the accounting fraud at CG Power and Industrial Solutions. The tribunal on Monday adjourned a hearing the matter while directing the market regulator to provide Thapar’s counsel the investigation report based on which it passed the order dated September 18. Sebi has been given two days to submit its reply. Meanwhile, CG Power had submitted a plea to be a party to the case. SAT has ordered Thapar’s counsel to give a petition copy to counsel appearing for CG Power. SAT may once again take up the matter on Thursday.
