{"id":382802,"date":"2020-11-06T11:38:21","date_gmt":"2020-11-06T06:08:21","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=382802"},"modified":"2020-11-06T12:51:54","modified_gmt":"2020-11-06T07:21:54","slug":"securities-appellate-tribunal-dismisses-ril-appeal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/securities-appellate-tribunal-dismisses-ril-appeal\/","title":{"rendered":"Securities Appellate Tribunal dismisses RIL appeal"},"content":{"rendered":"<p>The Securities Appellate Tribunal (SAT) has dismissed an appeal filed by Reliance Industries (RIL) against a March 2017 disgorgement order passed by Sebi.<\/p>\n<p>The tribunal on Thursday said there was no question of the regulator\u2019s direction to disgorge over Rs 447 crore being \u201charsh or a penal action\u201d as it was an equitable remedy. <\/p>\n<p>Sebi\u2019s order had pertained to the sale of Reliance Petroleum Ltd\u2019s (RPL) shares by RIL in November 2007. <\/p>\n<p>\u201cNothing has been taken out of the appellant\u2019s own funds\/assets in the process. Since it is only an equitable remedy there is no question of that being harsh or a penal action,\u201d the majority order by the two members \u2014 C K G Nair and M T Joshi \u2014 said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities Appellate Tribunal (SAT) has dismissed an appeal filed by Reliance Industries (RIL) against a March 2017 disgorgement order passed by Sebi. The tribunal on Thursday said there was no question of the regulator\u2019s direction to disgorge over Rs 447 crore being \u201charsh or a penal action\u201d as it was an equitable remedy. Sebi\u2019s order had pertained to the sale of Reliance Petroleum Ltd\u2019s (RPL) shares by RIL in November 2007. \u201cNothing has been taken out of the appellant\u2019s own funds\/assets in the process. Since it is only an equitable remedy there is no question of that being harsh [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,215,148],"tags":[],"class_list":["post-382802","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-telegraph","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/382802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=382802"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/382802\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=382802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=382802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=382802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}