Reliance Industries: SC asks RIL to deposit Rs 250 crore in IPF | India Business News – Times of India
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NEW DELHI: The Supreme Court on Thursday stayed a Securities Appellate Tribunal order upholding Sebi’s direction to RIL to pay up disgorged amount of Rs 447 crore on the condition that it deposited Rs 250 crore in the Investors’ Protection Fund.
Admitting RIL’s appeal against SAT’s November 5 order, a bench of Justices D Y Chandrachud, Indu Malhotra and Indira Banerjee said, “As and by way of interim relief, we order and direct that the appellants shall, within a period of four weeks from today, deposit an amount of Rs 250 crore in the Investors’ Protection Fund in compliance with the order of the Whole Time Member, subject to the final result of the appeal. There shall be a stay on the recovery of the balance, inclusive of interest, pending the appeal.”
Admitting RIL’s appeal against SAT’s November 5 order, a bench of Justices D Y Chandrachud, Indu Malhotra and Indira Banerjee said, “As and by way of interim relief, we order and direct that the appellants shall, within a period of four weeks from today, deposit an amount of Rs 250 crore in the Investors’ Protection Fund in compliance with the order of the Whole Time Member, subject to the final result of the appeal. There shall be a stay on the recovery of the balance, inclusive of interest, pending the appeal.”
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