New Delhi, April 09: The Supreme court today directed B L Joshi, director of one Coverage & Consultants, a firm engaged in the business of investing in stocks and shares, to submit documents regarding trading of two firms to market regulator SEBI over alleged violation of share trading rules.
A bench comprising Justice S H Kapadia and Justice Swatantra Kumar directed Joshi to hand over all documents relating to purchase and sales asked by the Securities and Exchange Board of India required by it during its investigation.
The Court’s direction came on a petition filed by SEBI challenging an order of the Securities and Appellate Tribunal, which had set aside the order passed by the regulator directing the company and its director Joshi over trading of shares of Top Telemedia Ltd (TTL) and Top Media Entertainment Ltd (TMEL). SAT had also set aside the fine imposed on Joshi.
–Agencies