SAT stays SEBI order against Adani Group

Mumbai, July 13 (UNI) The Securities Appellate Tribunal (SAT) has granted interim stay to the Securities and Exchange Board of India (SEBI) order banning Adani Group for two years.

The SAT today admitted the appeals filed by the Adani Group and posted a final hearing for September.

''The SAT has admitted seven appeals filed by the Adani Group and they are granted interim stay till final disposal of their case,'' the sources in the SAT said.

The SEBI through its order in May this year had banned Adani Group and its promoters for two years for alleged links with Ketan Parekh in manipulating Adani Exports (now Adani Enterprise) stock in the period between October 1999 and March 2001.

UNI