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Unique Estates Development Co. Ltd. v/s Bombay Stock Exchange Ltd. Mumbai

    Misc. Application No. 279 of 2017 & Appeal No. 302 of 2017

    Decided On, 19 September 2018

    At, SEBI Securities Exchange Board of India Securities Appellate Tribunal

    By, THE HONOURABLE DR. C.K.G. NAIR
    By, MEMBER

    For the Appellant: Nihar Mody, Kishore Abichandani, Advocates. For the Respondent: Manish Chhangani, Varun Mansinghka, i/b Khaitan & Co., Advocates.



Judgment Text

Oral:

Misc. Application No. 279 of 2017 :

1. By this Misc. Application, appellant seeks condonation of 28 days delay in filing the appeal. For the reasons stated in the Misc. Application, delay is condoned. Misc. Application is disposed of accordingly.

Appeal No. 302 of 2017 :

1. This appeal is filed to challenge the communication of BSE Ltd. (‘BSE’ for short) dated August 22, 2017, whereby the appellant company was compulsorily delisted by BSE.

(Substituted by Order dated 24/9/2018 passed in Appeal No.302 of 2017. Prior to its substitution, para 2 read as under:

'2. After the matter was argued for some time, counsel for the appellant states that instead of pursuing the appeal, appellant would make a representation to BSE focusing on listing compliances within a period of 15 days from today.') 2. After the matter was argued for some time, counsel for the respondent states that BSE/its Delisting Committee would provide the appellant a personal hearing and will pass a fresh order. Counsel for the appellant states that instead of pursuing the present appeal, the appellant would make a representation to BSE within a period of 15 days from today. (Substituted by Order dated 24/9/2018 passed in Appeal No.302 of 2017. Prior to its substitution, para 2 read as under:

'2. After the matter was argued for some time, counsel for the appellant states that instead of pursuing the appeal, appellant would make a representation to BSE focusing on listing compliances within a period of 15 days from today.')

3. Accordingly, appellant is permitted to make a representation to BSE. If a representation is made by the appellant, BSE shall consider and dispose of the same in accordance with law within

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a period of 12 weeks from the date of receiving the representation. In the interim, status quo to be maintained. 4. Appeal is disposed of on the above terms with no order as to costs.
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