Supreme Court reviews SAT's order setting aside Vedanta penalty
This case concerns an appeal by SEBI against the Securities Appellate Tribunal's (SAT) decision to set aside penalties imposed on Vedanta Limited and its directors for allegedly making a misleading announcement of a share buyback without the intent to fulfill it.
Appellant: Securities and Exchange Board of India (SEBI); Respondents: Vedanta Limited and others; Bench: Justice J.B. Pardiwala.
- The document is a judgment dated 2026 INSC 978.
- The Court is reviewing the SAT's order dated 05.10.2023, which set aside the Adjudicating Officer's penalty order dated 19.05.2021.
- The original penalties were Rs. 5.25 Crore on Vedanta Limited and Rs. 15 Lakh each on three individual directors.
- The allegations involved violations of the PFUTP Regulations and Buyback Regulations due to a lack of intent to complete the buyback.
- The text provided contains the factual matrix, submissions, and issue determination but does not include the final conclusion or operative order of the Supreme Court.
Written from the document by AI, and checked against it. The original below is authoritative.
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Document details
| Official title | Release Of Escrow Under SEBI Buyback Regulations Does Not Bar Separate Fraud Inquiry : Supreme Court In Vedanta Case |
| Source body | Supreme Court of India — orders & judgments |
| Reference number | — |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |