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The Securities Appellate Tribunal (SAT) has asked markets regulator Sebi to pass final order in six months in a case related to CG Power and Industrial Solutions, wherein the company's ex-chairman Gautam Thapar and three other former officials were banned from the securities market.
Besides Thapar, the other officials banned were CG Power former chief financial officer V.R. Venkatesh and former directors Madhav Acharya and B Hariharan.
The SAT ruling comes after Thapar, Hariharan and others moved to the tribunal against a Sebi confirmatory order passed in March 2020, whereby it had barred Thapar, Venkatesh, Acharya and Hariharan "from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, till further orders".