Hemant Ghai vs Securities And Exchange Board Of India

Since appeals have been taken for hearing, the urgency applications are disposed of. There is a delay in the filing of the appeals. For the reasons stated in the applications, the delay is condoned. The applications are allowed.

Adjourned on the request of the learned counsel for the respondent to enable him to file a short reply. Permission granted. Let a reply be filed in both the appeals within a week from today. Rejoinder may be filed on or before the next date. List for admission on March 24, 2022.

In the meanwhile, the order dated February 3, 2022 directing the appellant to deposit a further amount towards the alleged unlawful gains amounting to Rs. 3,90,67,921/- shall remain stayed till the next date of listing.

Parties are directed to take instructions from the Registrar 48 hours 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.

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.