Date:21/07/2005 URL: http://www.thehindubusinessline.com/2005/07/21/stories/2005072102820900.htm

Back SAT presiding officer recuses from UBS case

Our Bureau

MUMBAI: The presiding officer of the Securities Appellate Tribunal (SAT), Mr Kumar Rajaratnam, has recused himself from hearing the case between SEBI and UBS.

It is understood that this follows media reports suggesting that SEBI is not interested in the case going in for adjudication. On Monday, the presiding officer of SAT had suggested that there can be adjudication with the concurrence of both the parties.

It was also suggested by him that UBS pay a fine of Rs 50 crore and resume issuing participatory notes in India.