Polaris Chief Arun Jain is considering approaching the Securities Appellate Tribunal (SAT) against market regulator SEBI’s order barring him from securities market for two years for alleged violation of insider trading norms.

“We are reviewing the order and considering filing an appeal before the SAT,” Polaris Financial Technology said in a statement. It also said that the “current order does not take into consideration the detailed legal arguments that were presented challenging the re-opening of the consent order".

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