Axis Bank Ltd vs National Stock Exchange Of India Ltd. & Ors

For the reasons given in the application, the delay in filing the appeal is condoned. The application is allowed.

In so far as the exemption application is concerned we direct National Stock Exchange of India Ltd. to supply a certified copy of the order to the appellant within five working days. The certified copy will thereafter be filed before the Tribunal. The exemption application is disposed of accordingly.

One of the question remain is whether NSE has the power to freeze the bank account of Karvy Stock Broking respondent no.3. It is contended that the said respondent has no jurisdiction or power to freeze the bank accounts of respondent no.3.

Let a reply be filed by all the parties within three weeks from today. Two weeks thereafter to the appellant to file rejoinder. The matter would be listed alongwith appeal no.35 of 2020 on 6th May, 2021.

Parties are directed to contact the Registrar 48 hours before the date fixed to find out as to whether the hearing would take place through video conferencing or through physical hearing.

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 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.