Within a week, the Securities and Exchange Board of India (Sebi) has taken a double body blow, with two major orders struck down by appellate authorities. First, the Securities Appellate Tribunal’s move to overturn the order against realty major DLF for alleged disclosure rule violations in its Initial Public Offer of equity. Then, last week, Business Standard had reported that the regulator’s first-ever arrest order had been quashed by the Bombay High Court.

Source - http://www.business-standard.com