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SAT overturns IIFL acquiring Sebi ban on new clients
Hindustan Times
|December 08, 2023
The Securities Appellate Tribunal on Thursday overturned a Securities Exchange Board of India (Sebi) order restricting IIFL Securities from acquiring new clients. The tribunal also lowered the penalty from Sebi's initial fine of 1 crore to 20 lakh.
"The direction of the wholetime member restraining the appellant (IIFL Securities) from taking new clients for a period of two years is set aside," said a SAT bench led by Justice Tarun Agarwala in a 35-page order.
This story is from the December 08, 2023 edition of Hindustan Times.
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