The Securities Appellate Tribunal (SAT) has posted the appeal filed by Reliance Industries (RIL) for hearing on September 25 after an intervention appeal was filed by an Urdu daily on the grounds of public interest. The intervening petition was filed in the matter by Dr M Furquan, editor of ‘Sach Bilkul Sach’, after which lawyers representing RIL and Sebi sought more time to seek instruction on the application and to file their respective replies. RIL moved the tribunal after Sebi rejected its consent application to settle an insider trading matter. RIL is alleged to have made unlawful gains of R513 crore by selling shares of the company’s erstwhile subsidiary Reliance Petroleum in 2007.
IIFL seeks Sebi nod to raise up to R1,050 cr via NCDs
India Infoline Finance (IIFL), has filed with Sebi to raise up to R1,050 crore through non-convertible debentures (NCDs). “Public Issue by IIFL, of secured redeemable NCDs of face value of R1,000 each, aggregating up to R5,250 million, with an option to retain over subscription up to R5,250 million aggregating to a total of up to R10,500 million,” IIFL said.