1 entry, oldest to newest.
The Supreme Court on 9 September 2026 remanded to the Securities Appellate Tribunal (SAT) a dispute between the Securities and Exchange Board of India and Vedanta Limited over allegations that a Rs 5,725 crore Cairn India share buyback announcement was made without a genuine intention to complete it. A bench of Justices J B Pardiwala and K V Viswanathan held that release of the escrow amount deposited for the buyback does not, by itself, prevent SEBI from separately examining whether the company committed fraud under its Prohibition of Fraudulent and Unfair Trade Practices Regulations. The Court flagged an apparent contradiction in SEBI's own investigation, a February 2016 report that found no material impact on the share price from the announcement, against a March 2017 report that treated the same conduct as fraud, and directed SAT to decide the fraud question afresh within six months, examining trading data and relevant officials as needed.