SAT stays Sebi’s order on J.Kumar Infraprojects

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Mumbai/Chennai, Aug 10 (IANS) The Securities Appellate Tribunal (SAT) on Thursday stayed the trade restriction order by securities market regulator Securities and Exchange Board of India (Sebi) on building construction services provider J.Kumar Infraprojects.

The company’s attorney Amit Bikram Dey confirmed the development to IANS.

The company had approached SAT on Wednesday against Sebi, which had classified it as a ‘shell company’.

On Wednesday, SAT asked Sebi to hear the company on Thursday and take a decision, failing which the SAT would decide the company’s appeal on merits.

–IANS

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