Three firms move tribunal against SEBI's shell company order
J Kumar Infraprojects, Prakash Industries and Parsvnath Developers have filed petitions with Securities Appellate Tribunal (SAT) against SEBI order naming them among 331 suspected shell companies. The companies argued that Ministry of Corporate Affairs and exchanges had not verified whether they are shell companies or not and wanted to know under what law or regulation SEBI has taken such action.