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Judgment
Tarun Agarwala, Presiding Officer
Since we have taken up the matter for hearing today, the urgency application is disposed of.
We have heard the learned senior counsel for the parties. The present appeal has been filed against the orders dated February 14, 2022 issued by the BSE Limited (“BSE” for convenience) as well as by National Stock Exchange of India Limited (“NSE” for convenience) whereby fines have been imposed for non-compliance of various provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations” for convenience) as per the Circular dated January 22, 2020.
Having considered the submissions raised by the appellants, we are of the opinion that the appellants should deposit the fine under protest and file a representation for revocation of the fine and/ or for waiver of the fine for the reasons stated in the application. If such an application is filed the BSE as well as NSE will consider the matter and pass appropriate orders and, if necessary, provide an opportunity of hearing.
The appeal is disposed of accordingly.
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.