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Bansal Sharevest Services Ltd. v/s Securities & Exchange Board of India & Others
Appeal No: 58 of 2006
Decided On, 07 April 2006
At, SEBI Securities Exchange Board of India Securities Appellate Tribunal
By, CORAM: JUSTICE N.K. SODHI
By, PRESIDING OFFICER
By, C. BHATTACHARYA
By, MEMBER
By, R.N. BHARDWAJ
By, MEMBER
Mr. Virender Ganda, Advocate for the Appellant. Mr. Mr. Kumar Desai, Advocate for Respondent No. 1.
Judgment Text
Justice N.K. Sodhi, Presiding Officer
1. This appeal should not detain us for long. It is directed against an interim order dated 16/12/2003 whereby the ex-parte order dated 23/07/2003 was confirmed and the appellant along with the broker was prohibited from buying, selling or dealing in securities pending further orders.
2. The grievance of the appellant appears to be that the proceedings have not yet been finalized. It is not in dispute that the appeal could be filed within 45 days from the date of receipt of the order. The present appeal has been filed after a long delay. The learned counsel appearing for respondent no.1 very fairly states that the pending proceedings before SEBI would be finally disposed of on or before June 30, 2006 after affording to the appellant an opportunity of hearing. In view of this statement the learned counsel for the appel
1. This appeal should not detain us for long. It is directed against an interim order dated 16/12/2003 whereby the ex-parte order dated 23/07/2003 was confirmed and the appellant along with the broker was prohibited from buying, selling or dealing in securities pending further orders.
2. The grievance of the appellant appears to be that the proceedings have not yet been finalized. It is not in dispute that the appeal could be filed within 45 days from the date of receipt of the order. The present appeal has been filed after a long delay. The learned counsel appearing for respondent no.1 very fairly states that the pending proceedings before SEBI would be finally disposed of on or before June 30, 2006 after affording to the appellant an opportunity of hearing. In view of this statement the learned counsel for the appel
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lant prays that he may be allowed to withdraw the appeal. 3. Dismissed as withdrawn.