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Judgment
A reply has been filed by SEBI and one of the points urged is that this Tribunal is not properly constituted. A very serious ground has been taken
and, therefore, it is necessary for the respondent to argue on this issue before we proceed to hear this matter on merits and any other appeals. We
direct the matter to come up for consideration on this point on May 7, 2021. Registry will list this appeal as first case on the cause list.
Parties will take instructions from the Registrar 48 hrs. before the date fixed in order to find out as to whether the appeal would be heard through
video conference 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.