Sebi informed the SAT about the decision to defreeze the bank accounts immediately when the tribunal was hearing the pleas filed by the two individuals against the Sebi order. The markets regulator informed the Securities Appellate Tribunal (SAT) about the decision to defreeze the bank accounts immediately when the tribunal was hearing the pleas filed by the two individuals against the Sebi order. All the four persons had approached the SAT against the Sebi order that impounded averted losses totalling Rs1.4 crore through alleged insider trading in MCX and FTIL shares. The loss amount averted by Sinha was Rs8.52 lakh, Massey (Rs58.81 lakh), Shreekant Javalgekar and his wife (Rs79.5 lakh), as per the Sebi order. Besides, the banks were ordered not to debit any amount from bank accounts of these persons except for the purpose of transfer of funds to the escrow account.

Source: Mint August 18, 2017 16:07 UTC