Dewan Housing Finance (DHFL) has obtained temporary relief with the Securities Appellate Tribunal (SAT) directing market regulator Securities and Exchange Board of India (Sebi) to halt recovery proceedings.
“The question which arises for consideration is, whether the Sebi
could initiate proceedings under SEBI
Act, 1992 inspite of issuance of a moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC). This aspect requires consideration,” said SAT
to submit a reply on this issue within four weeks.