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Reliance Commodities Ltd. v/s National Commodity & Derivatives Exchange Ltd. Ackruti Corporate Park, Mumbai & Another

    Misc. Application No.189 of 2019 & Appeal No.173 of 2019
    Decided On, 23 July 2019
    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, Ravichandra Hegde, Kalpana Desai, Robin Shah, i/b. Farooqui Mohammed Khalid, Advocates. For the Respondents: R1, Mahaveer Rajguru, i/b. Regstreet Law Advisors, R2, Vishal Kanade, Mihir Mody, Sushant Yadav, i/b. K. Ashar & Co., Advocates.


Judgment Text
Tarun Agarwala, Presiding Officer

Oral:

1. We have heard the learned counsel for the parties. An application dated 3rd September, 2018 was filed praying for inspection of documents on the ground that it will have a material bearing for the purpose of filing the reply to the show cause notice. The said application was rejected by a communication dated 10th September, 2018 passed by National Commodity & Derivatives Exchange Ltd. The contention of the appellant is, that these documents are necessary for the purpose of filing an appropriate reply to the show cause notice.

2. Having heard the learned counsel for the parties and having perused the list of documents so required for inspection we are of the opinion that the documents sought for is nothing but a roving and fishing enquiry. We accordingly do not find any merit in the submission of the learned counsel for the appellant that these documents are essential for the purpose of filing an appropriate reply.

3. However, we are of the opinion that if any document is relied by the respondent while disposing of the matter such document should

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be made available to the appellant. The appeal is accordingly disposed of. Misc. Application No.189 of 2019 is also disposed of.
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