New Delhi, Jan. 18 (PTI): The Securities and Exchange Board of India today informed the Supreme Court that it has given conditional consent to the settlement between the Vijay Mallya-owned UB group and the Chhabria group on the question of ownership over Herbertsons Ltd.

A bench comprising Justice N. Santosh Hegde and Justice S. B. Sinha adjourned the hearing on the matter for four weeks as the parties sought time to go over the conditions stated by Sebi regarding acceptance of the agreement between them.

The market regulator said the agreement should not affect the adjudication proceedings already initiated pursuant to its orders.

?The open offers already made by the two groups, in respect of which shares were tendered and payment was made, should not be disturbed,? it said.