MUMBAI: The Securities Appellate Tribunal (SAT) will resume its hearing on the Pyramid Saimira Theatre (PSTL) petition challenging a SEBI order that debarred it from trading in the markets for seven years, on February 1.

The theatre chain operator was banned from accessing the capital markets by SEBI last November following irregularities in its 2006 IPO.

Market regulator SEBI had found that during the IPO, PSTL allotted 98.5 per cent of shares reserved under the employee category to "seven persons who were not its employees," and sold the same and made collective profits of Rs 2.31 crore, SEBI had said.