At, SEBI Securities amp Exchange Board of India Securities Appellate Tribunal
By, THE HONOURABLE MR. JUSTICE TARUN AGARWALA
By, PRESIDING OFFICER & THE HONOURABLE MR. JUSTICE M.T. JOSHI
By, JUDICIAL MEMBER
For the Appellants: Rinku Valanju, Sumit Yadav, Pratham Masurekar, Aditya Shah, i/b R V Legal, Advocates. For the Respondent: Suraj Chaudhary, Nidhi Singh, Hersh Choudhary, Nipa Paka, Riddhi Pawar, Advocates i/b Vidhii Partners.
1. The appeal has been taken up for hearing. The urgency application is accordingly disposed of.
2. There is a delay of 31 days in the filing of the appeal. For the reasons stated in the application, the delay is condoned. The application is allowed.
3. Having heard the learned counsel for the parties, we direct the respondent to file a reply within three weeks from today. Three weeks thereafter to the appellants to file rejoinder. The matter would be taken up for consideration on August 10, 2021.
4. In the event the appellants deposits a sum of Rs. 10 lac within three weeks from today, the balance amount shall not be recovered during the pendency of the appeal.
5. Parties will take 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.
6. 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 on behalf of the bench and all concerned parties are d
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irected 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.