SEBI

A bench headed by the Chief Justice of India, D.Y. Chandrachud told Solicitor General Tushar Mehta, representing SEBI, that the court could have given time till end of September but on August 14, "tell us, what stage you are on, give us an updated report". Mehta contended that six-month extension for the SEBI to complete its report was already compressed.

In an order, a bench headed by former Chief Justice U.U. Lalit and comprising Justices J.K. Maheshwari and Hima Kohli said: "The Chief Justice of India by order dated October 19, 2022 directed that notice be issued in the review petition. Justice J.K. Maheshwari and Justice Hima Kohli by order dated October 19, 2022 dismissed the Review Petition. In view of the majority opinion, the Review Petition stands dismissed in terms of the signed orders. Pending applications, if any, shall stand disposed of."

A bench comprising Justices M.R. Shah and M.M. Sundresh said: "Issue notice to the respondent, making it returnable on December 2, 2022. Abhishek Singh, counsel accepts service of notice on behalf of the respondent." Senior advocate Harish N. Salve, appearing on behalf of RIL, vehemently submitted that despite the August 5 order passed by the apex court by which the respondent (SEBI) was directed to furnish a copy of the documents, the same has not been furnished till date.

Senior advocate Mukul Rohatgi, appearing for the Roys, submitted before a bench headed by Chief Justice N.V. Ramana that the third member of the Securities Appellate Tribunal (SAT) is not there, therefore and the hearing on the appeals is stuck. He added that proceedings to levy the penalty has been initiated and the appeals have to be decided without charging the penalty at this stage.