KSS Ltd vs Securities & Exchange Board Of India

There is a delay of 28 days in the filing of the appeal. For the reasons stated in the application, the delay is condoned. The application is allowed.

Having heard the learned counsel for the parties and having perused the impugned order, we find that, prima-facie, the penalty of Rs. 12 crore

imposed upon the company does not give any reason.

Let a reply be filed by the respondent within three weeks from today. Two weeks to the appellant to file rejoinder. The matter would be listed for

admission and for final disposal on August 9, 2021.

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.