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Securities Appellate Tribunal

Amaresh Pathak & Ors. vs Sebi on 14 October, 2020

BEFORE THE SECURITIES APPELLATE TRIBUNAL
               MUMBAI

                                              Date : 14.10.2020


                          Misc. Application No. 340 of 2020
                          (Delay Application)
                          And
                          Appeal No. 332 of 2020


Amaresh Pathak & Ors.                           ..... Appellants

                      Versus

Securities & Exchange Board of India              ... Respondent


Mr. Saurabh Bachhawat, Advocate i/b Mr. Harsh Kesharia, Advocate
for the Appellants.
Ms. Nidhi Singh, Advocate with Ms. Kinjal Bhatt, Advocate i/b
Vidhii Partners for the Respondent



ORDER :

Misc. Application No. 340 of 2020 :

1. There is a delay of 207 days in filing the appeal. For the reasons stated in the Misc. Application, delay is condoned. Misc.

Application is allowed accordingly.

Appeal No. 332 of 2020 :

1. We have heard Mr. Saurabh Bachhawat, the learned counsel for the appellants and Ms. Nidhi Singh, the learned counsel for the respondent through video conference.

2. Three weeks time is allowed to the respondent to file a reply.

Three weeks thereafter to the appellants to file rejoinder. The matter would be listed for admission and for final disposal on December 2, 2020.

3. In the meanwhile, if the appellants deposits 50% of the penalty amount pursuant to the impugned order within four weeks from today, the balance amount will not be recovered during the pendency of the appeal.

4. Parties are directed to take instructions from the Registrar 48 hrs. 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.

5. 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 Presiding Officer 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.

TARUN Digitally signed by TARUN AGARWAL DN: c=IN, o=PUBLIC WORKS DEPARTMENT UTTAR PRADESH, postalCode=221505, st=Uttar Pradesh, 2.5.4.20=30fcf68685192bbc53e6ff1608a83fb3881de7ac2a AGARWAL b7954d509c85ed6e0f7c41, serialNumber=095f8b286bb0b1cd07ff676611f4f5e799972 7d404aa38ca422f9d3529bdb8a3, cn=TARUN AGARWAL Date: 2020.10.14 15:44:05 +05'30' Justice Tarun Agarwala Presiding Officer Dr. C. K. G. Nair Member Justice M. T. Joshi Judicial Member 14.10.2020 PTM