Partner Channels: Auctions | Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel
April 5, 2001
|
|
|
|
|
|
||
|
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Weather | Wedding | Women Partner Channels: Auctions | Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel |
||
|
|
||
|
Home >
Money > Business Headlines > Report April 5, 2001 |
Feedback
|
|
|
HC adjourns Anand Rathi case hearingBS Markets Bureau The division bench of the Bombay High Court has again adjourned the Anand Rathi case hearing to Tuesday as there was insufficient time to hear both the sides. The counsel for Rathi, the former president of the Bombay Stock Exchange, Abhishek Singhvi, who was presenting his client's case the entire day based his arguments on the principles of natural justice. He said his client should have the right to earn a livelihood. Singhvi said there was no evidence in the Securities and Exchange Board of India's (Sebi) verdict that his client was found culpable of the acts of which he has been alleged. Justice A P Shah, who was presiding over the case along with Justice S Wazifdar, taking cognisance of Singhvi's argument, asked the Sebi counsel whether the regulator had found any fresh evidence of the respondent's culpability in the alleged bear cartel. He made an informal suggestion to the Sebi counsel Ghulam Vahanvati that they could consider mitigating the order passed on Rathi prohibiting him from total trading. "The restrictions imposed on him can be lessened," was the advise given by Justice Shah. He said that since Sebi would be ready with the interim report on the alleged bear hammering by April 15, any evidence regarding Rathi's involvement in it and his using privileged information to participate in the cartel would be established by then. The Sebi counsel will present his argument on Tuesday after which an order is expected to be passed. Powered by ALSO READ:
|
||||
