SAT dismisses Ketan Parekh’s appeal to cross-examine Capital Group traders
Tribunal says Parekh can challenge SEBI’s final order over material used against him, if any
The Securities Appellate Tribunal (SAT) has rejected Ketan Parekh's appeal to cross-examine Capital Group traders in a front-running case. The tribunal held that Parekh could raise concerns over any material used by SEBI, but he could no longer seek to question the two traders directly. The regulator had already dismissed the request, stating the traders' statements were not used to draw adverse inferences against Parekh.
The case stems from SEBI's January 2025 interim order against Parekh and Singapore-based trader Rohit Salgaocar over alleged front-running of Capital Group's trades. SEBI claimed Salgaocar had advance knowledge of trades and communicated the information to Parekh, who allegedly used this information to build positions before the fund executed its trades.
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