AI Structured Summary
Not yet generated for this judgment
Judgment
Tarun Agarwala, Presiding Officer
The present appeal along with other connected appeals was decided on 4th March 2020 wherein SEBI was directed to decide the matter within
three months in the light of directions given by the Tribunal. Period of three months expires on 3rd June 2020. SEBI (Applicant/Org. Respondent) had
fixed the matter on 21/5/2020 for hearing but the hearing was adjourned on account of the lockdown. Now, SEBI (Applicant/Org. Respondent) has
fixed the matter on 10th June 2020 for hearing.
SEBI, the Applicant (Org. Respondent) has filed the present application seeking an extension of time in order to comply with the directions passed
by the Tribunal vide Order dated 4th March, 2020.
We have heard Mr. Chirag Bhavsar, learned counsel for the SEBI-Applicant (Org. Respondent) and Mr. Vikas Bengani, learned counsel for the
original appellants.
Since the lockdown in Mumbai has been extended till 30th June 2020, we direct SEBI to decide the matter in terms of our order dated 4th March
2020 on or before 15th August 2020 after giving an opportunity of hearing to the appellants. The hearing may be done either through physical hearing
or through video conferencing as convenient to the parties.
Misc. Application No.139 of 2020 is accordingly disposed of.
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.