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JK Paper Limited v/s Securities and Exchange Board of India

    Misc. Application Nos. 978, 979 of 2021 & Appeal No. 587 of 2021

    Decided On, 21 September 2021

    At, SEBI Securities amp Exchange Board of India Securities Appellate Tribunal


    For the Appellant: Janak Dwarkadas, Senior Advocate, Ameya Gokhale, Radhika Indapurkar, Harit Lakhani, i/b Shardul Amarchand Mangaldas & Co., Advocates. For the Respondent: Kevic Setalvad, Senior Advocate, Mihir Mody, Sneha Prabhu, Arnav Misra, Mayur Jaisingh, i/b K. Ashar & Co., Advocates.

Judgment Text

1. The present appeal has been filed against the order dated November 10, 2020. The appellant has also challenged the show cause notice dated August 5, 2021 issued by the Adjudicating Officer of the Securities and Exchange Board of India. There is a delay in the filing of the appeal and accordingly an application for condonation of delay has been filed. The ground urged is, that the appellant was never served with the order of November 10, 2020 and that they came to know for the first time only when the show cause notice dated August 5, 2021 was served. On this fact we had directed the respondent to file a limited affidavit which was filed yesterday. A perusal of paragraph 8 of the affidavit clearly indicates that the appellant was never served with the impugned order dated November 10, 2020. Consequently, we are satisfied that there is no delay on the part of the appellant in filing the appeal belatedly. The delay condonation application is allowed.

2. Let the matter be listed for admission and for final disposal at the admission stage itself on September 29, 2021. It is made clear that since there is no factual dispute the matter would be decided at the admission stage without calling for a reply.

3. Parties are directed to take instructions from the Registrar 48 hours before the date fixed in order to find out as to whether the matter would be taken up for hearing 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 Private Secretary

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on behalf of the bench and all concerned parties are directed to 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.