Insider trading case: Future Group s Kishore Biyani moves SAT against Sebi ban
Sebi had banned Kishore Biyani, his brother Anil Biyani and Future Corporate Resources Limited (FCRL) from accessing the securities market for a period of 1 year
BusinessToday.In | February 6, 2021 | Updated 19:44 IST
Kishore Biyani moves SAT against Sebi order
Future Group s Kishore Biyani, his brother Anil Biyani and Future Corporate Resources Limited (FCRL) have moved the Securities Appellate Tribunal (SAT) against the Sebi order that barred them from the securities market.
Markets regulator Securities and Exchange Board of India (Sebi) on February 3 banned the Biyani bothers and FCRL from accessing the securities market for a period of 1 year. The regulator had also restrained Biyani from buying, selling or dealing in the securities of Future Retail Limited (FRL), directly or indirectly, in any manner whatsoever, for a period of 2 years. They were also asked to jointly and severally disgorge an
A lawyer for Amazon on Friday told the Delhi High Court that the e-commerce giant is constantly committed to helping Future Retail Limited (FRL) and it doesn’t want the company to go down. The lawyer argued that Amazon was in touch for the purpose of resolving the matter even till the time the Future-Reliance deal was made public. The Delhi High Court is hearing the appeal filed by Future Retail Limited (FRL) against the Court s order passed earlier this week. It had asked FRL to maintain the status quo with respect to its $3.4 billion (about Rs 24,700 crore) deal with Reliance Retail. The court had said it was satisfied that an immediate interim order was required to be passed to protect the rights of e-commerce firm Amazon.
Future Group shares plunge as SEBI bans CEO Kishore Biyani from securities market origin-businesstoday.intoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from origin-businesstoday.intoday.in Daily Mail and Mail on Sunday newspapers.
A lawyer for Future Retail Limited (FRL) on Thursday told the Delhi High Court that Reliance has offered Rs 24,000 crore deal to Future which will take all the liabilities and save the jobs of 25,000 employees. The lawyer argued that all the banks and shareholders of Future are safe through this deal as it put money on the table. The Delhi High Court is hearing the appeal filed by Future Retail Limited (FRL) against the Court s order passed earlier this week. It had asked FRL to maintain the status quo with respect to its $3.4 billion (about Rs 24,700 crore) deal with Reliance Retail. The court had said it was satisfied that an immediate interim order was required to be passed to protect the rights of e-commerce firm Amazon.