The SAT found that continuing the interim order was harsh and unwarranted, especially given SEBI's "track record" of not completing investigations on time.
Sebi in July, sent a notice to Yes Bank former MD and CEO Rana Kapoor asking him to pay Rs 2.22 crore in a case of misselling the private sector lender's Additional Tier-1 (AT1) bonds and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days.
SEBI informed the Court that it “had sought information from agencies, regulators in foreign jurisdictions, etc. and upon receipt of such information, will evaluate the same to determine further course of action, if any…”