SAT gives Sebi time till 10 March to pass final order in CG Power matter

NEW DELHI : The Securities Appellate Tribunal (SAT) on Tuesday granted Sebi time till March 10 to pass the final order in the matter related to CG Power and Industrial Solutions where former chairman Gautam Thapar and other entities were barred from the securities market.

While giving more time, the tribunal also clarified that the regulator can rely only upon documents that are also made available to all the entities for passing the confirmatory order.

Apart from Thapar, Avantha Holdings Ltd as well as CG Power’s former chief financial officer V R Venkatesh and two former directors — Madhav Acharya and B Hariharan — were barred from the securities market.