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Sanchay Finvest Limited v/s BSE Limited Phiroze Jeejeebhoy Towers, Mumbai

    Appeal No. 237 of 2018

    Decided On, 02 August 2018

    At, SEBI Securities Exchange Board of India Securities Appellate Tribunal

    By, MEMBER

    For the Appellant: Ramesh Mishra, PCS with Lokanath Mishra, Advocates. For the Respondent: Tomu Francis, Vivek Shah, Advocates.

Judgment Text


1. Not on Board; mentioned by counsel for the Appellant. Though this appeal is listed for hearing on 17th August, 2018 counsel for the Appellant states that he is ready to abide by an order similar to the one which is passed by this Tribunal on 31.7.2018 in the matter of Vital Communications Ltd. vs. BSE Limited.

2. This appeal has been filed challenging the order of the BSE Limited (‘BSE’ for short) dated July 2, 2018 whereby the Appellant Company has been delisted from the Exchange.

3. It is not in dispute that the Appellant has made a representation to the BSE Ltd. against the said delisting. Further, counsel for the Appellant states that they would like to make a detailed representation to the BSE, within a period of one week from today. Counsel for the respondent BSE, on instruction, states that given the peculiar facts on this matter they are willing to hear the Appellant based on their representation within a period of 8 weeks from the date of receiving the detailed representation.

4. Accordingly, BSE is directed to pass the final order within a period of 8 weeks after receiving the fresh representation from Appellant.

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In the interim, status quo shall be maintained. 5. Appeal is disposed of on the above terms with no order as to costs.