At, SEBI Securities amp Exchange Board of India Securities Appellate Tribunal
By, THE HONOURABLE MR. JUSTICE TARUN AGARWALA
By, PRESIDING OFFICER
By, THE HONOURABLE DR. C.K.G. NAIR
By, MEMBER & THE HONOURABLE MR. JUSTICE M.T. JOSHI
By, JUDICIAL MEMBER
For the Appellant: P.N. Modi, Senior Advocate, Neville Lashkari, Rohan Banerjee, Gazal Rawal, i/b Cyril Amarchand Mangaldas, Advocates, Ashu Gupta, Appellant in person. For the Respondent: Nidhi Singh, Kinjal Bhatt i/b ELP, Advocates.
1. Heard both the sides. Connect with Appeal Lodging No. 302 of 2020 (Avenue Supermarts Ltd. vs. SEBI). Four weeks’ time is hereby granted to the respondent to file an affidavit-in-reply. Two weeks thereafter to the appellant to file affidavit-in-rejoinder, if any. Place the appeal for final disposal on November 25, 2020.2. In the meantime, the effect and operation of the impugned order shall remain stayed upon deposit an amount equal to the 2 penalty with the respondent within three weeks from today which shall be kept in an interest bearing account by the respondent and would be subject to the result of the appeal.3. Parties are directed to seek instructions from the Registrar 48 hrs. before the date fixed in order to find out as to whether the appeal would be heard through video conference or through physical hearing.4. The present matter was heard through video conference due to Covid-19 pandemic. At this stage it is not possible to sign a copy of this order nor a certified copy of this order could be issued by the Registry. In these circumstances, this order will be digitally signed by the Presiding Officer on behalf of the bench and all concerned parties are directed t
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o act on the digitally signed copy of this order. Parties will act on production of a digitally signed copy sent by fax and/or email.