The Securities Appellate Tribunal has stayed a SEBI order asking IL&FS Engineering and Construction to pay ₹59.164 crore in an insider trading case relating to Satyam Computer Services. On September 10, SEBI had barred eight persons, including Satyam Computer founder B Ramalinga Raju, from the market for seven years in connection with the fraud and had asked them to return ₹1,463 crore of unlawful gains to SEBI within 45 days. However, IL&FS Engineering, erstwhile Maytas Infra, was ordered to disgorge only unlawful gains. SAT will hear the matter on January 12, IL&FS said in an exchange filing on Monday.
IL&FS Engg gets stay on ₹59-cr fine
Published on
October 26, 2015 15:54