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SAT stays SEBI order against Kishore Biyani February 15, 2021 × The Securities Appellate Tribunal (SAT) has granted a stay on SEBI’s order against Kishore Biyani in an insider trading case. SAT has, however, asked Biyani and others involved in the case to deposit ₹11 crore with SEBI within four weeks, said sources. The matter was heard before Justice Tarun Agarwala. Future Corporate Resources Limited (FCRL), Future Group’s Kishore Biyani and his brother Anil Biyani had moved an appeal in SAT against SEBI order that barred them from the securities market. The case pertains to an announcement made by FRL to the exchanges on April 20, 2017. FCRL merged into Suhani Trading and Investment Consultants Private Limited, which resulted in the de-merger of a few businesses of FRL which benefitted the company in a monetary manner. ....
Sebi bars Future Group CEO Kishore Biyani from accessing securities market for 1 year Kishore Biyani (Photo: Mint) Kishore Biyani has also been barred from buying, selling or dealing in securities of Future Retail for 2 years Future Corporate Resources and the two Biyani brothers will each need need to pay a penalty of ₹1 crore within 45 days, Sebi said Share Via Read Full Story Markets regulator Sebi has barred Future Group CEO Kishore Biyani and his brother Anil rom accessing securities market for a period of 1 year in a case pertaining to alleged insider trading between March and April 2017. Biyani has also been barred from buying, selling or dealing in securities of Future Retail for 2 years. Sebi said it reached the decision on Biyani after probe into 2017 case in use of unpublished price sensitive information to trade in Future Retail shares. ....