Samir Arora, former chief investment officer of Alliance Capital Management Ltd, who was barred from dealing in securities for alleged insider trading, on Thursday appeared for hearing before Securities and Exchange Board of India.

Arora, who resigned from Alliance to set up an asset management outfit in collaboration with Sabre Capital, appeared in person along with his counsel Aspi Chenoy before Sebi whole-time board member T M Nagarajan for hearing.

The closed door hearing lasted for over 90 minutes.

Also Read Sebi bars top Alliance Capital official from market Samir Arora, Alliance may contest Sebi ban Verdict on Samir Arora after Aug 28: Sebi Samir Arora quits Alliance

"No future date has been given for hearing as of now," Chenoy told reporters.

He said Doijode and Phatarphekar Associates made the briefing for the case.

On August 9, the market regulator had barred Arora from dealing in securities, directly or indirectly, till further orders for alleged insider trading and non-disclosures of investments.

Sebi, in its order, had said based on investigations, there is a prima-facie case of insider trading by Arora. He being the fund manager at Alliance Mutual Fund and FIIs/sub-accounts of US-based Alliance Capital Management was responsible for the alleged non-disclosures and wrong disclosures under Sebi regulations.

Apart from this, Arora's arrangement with Henderson Global Investors for the purchase of the stake of ACM in ACAML was in conflict with his interest as a fund manager, it said.