Arun Bajoria failed to show at Thursday's hearing with the Securities and Exchange Board of India (Sebi), the Hindu Business Line reported. "Neither Mr Arun Bajoria, nor his legal representative were present for the hearing today," a SEBI source said. The SEBI Chairman, Mr D.R. Mehta, said the regulator had received a letter of explanation from Mr Bajoria and is examining the issue. On Wednesday Mr Bajoria had told reporters that he or one of his lawyers would "positively" be attending the hearing.