Mumbai, Oct 28: Samir Arora, chief investment officer of Alliance Capital Fund, has filed a petition with Securities Appellate Tribunal (SAT) challenging SEBI's order barring him from dealing in capital market until further orders for alleged involvement in insider trading.
Arora filed an appeal against the regulator's order last week and a tentative date for hearing the appeal has been fixed for October 28, SAT sources said.
On August 9, 2003, the market regulator had barred Arora from dealing in securities, directly or indirectly, for alleged insider trading and non-disclosure of investments.
He being the fund manager at Alliance Capital Mutual Fund (ACMF) and FIIS/Sub-accounts of US-based Alliance Capital Management (ACM) was responsible for alleged non-disclosures and wrong disclosures under SEBI's regulations, SEBI whole time member T M Nagarajan said in his order.
Arora was given an opportunity for hearing on August 28, in which he had denied any involvement in insider trading.



Later, on September 24, SEBI confirmed its order of August nine.


Bureau Report