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Judgment
We have heard the learned counsel for the parties. The basic charge against the appellant who is noticee no.17 in the proceedings is that he was
conduit for transfer of the preferential allotment for round tripping of funds.
Let a reply be filed by the respondent within three weeks. Three weeks thereafter to the appellant to file rejoinder. Matter would be listed for
admission and for final disposal on 9th September, 2021.
In the meanwhile, if the appellant deposits a sum of Rs.50 lakhs within three weeks from today the effect and operation of the impugned order
dated 15th January, 2021 shall remain stayed during the pendency of the appeal in so far as the appellant is concerned.
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.