Later, some applicants requested for certain documents, while two applicants -- Uditi Mercantile and Pams Investments -- challenged the adjudication proceedings before Securities Appellate Tribunal (SAT). The Tribunal however declined to intervene in the matter through an order passed in April 2013. The Sebi committee then sought original records from the stock exchanges, followed by further meetings with the representatives of the applicants and again with the stock exchanges during May-July 2016. Applicants submitted additional documents in September 2016, including about the details of the amount transferred by the allottees of NCDs to RIL and the current status of the 38 allottees. In January 2017, the Sebi committee met again to summarise the earlier discussions and the alleged violations, before their final discussion scheduled for this month.

Source: dna February 12, 2017 11:03 UTC