# SAT rejects Ketan Parekh plea to cross-examine Capital Group traders 2026-08-25T17:38:15+00:00 | Governance | Indian Opinion Desk Corroboration: 1 independent outlet The Securities Appellate Tribunal has dismissed Ketan Parekh's appeal against Sebi's refusal to let him cross-examine two Capital Group traders in a front-running case. SAT ruled that once a matter is reserved, the only remaining right is to challenge the final order, and called Parekh's request 'mis-consumed'. The case stems from a Sebi interim order in January 2025 that barred Parekh and Singapore-based trader Rohit Salgaocar for allegedly front-running trades of a US-based foreign portfolio investor managing about $2.5 trillion. Sebi ordered disgorgement of Rs 65.77 crore in illegal gains. A final Sebi order is pending. Sebi had argued that the traders' statements were not used against Parekh and that they said they did not know him. The tribunal noted that any claim of extraneous material being used can be raised when Parekh challenges the final order. ## Indian Opinion Analysis Ketan Parekh was already banned from stock markets for 14 years after the 2000 market crash. This case tests whether Sebi can proceed without giving a noticee the chance to cross-examine witnesses whose statements are not cited against him. SAT has now effectively told Parekh to wait for Sebi's final order and challenge it then. The key question is when that final order will come and whether Sebi will impose a fresh ban. The tribunal's reasoning narrows the scope for interlocutory appeals in pending Sebi proceedings. ## Coverage - rediff.com Straight news agency style reporting with no discernible slant, leads with the tribunal order and attributes both sides. This brief was synthesised by AI from the source linked above. Tags: Capital Group, Ketan Parekh, SEBI, Securities Appellate Tribunal Canonical: https://indianopinion.org/sat-rejects-ketan-parekh-plea-to-cross-examine-capital-group-traders/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/sat-rejects-ketan-parekh-plea-to-cross-examine-capital-group-traders/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes. How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/