Tribunals and CommissionsDivision Bench(2021) 06 SEBI CK 0127

Nicer Green Housing And Infrastructure Developers India Ltd vs Securities And Exchange Board Of India

Securities Appellate Tribunal Mumbai · Decided on 8 June 2021

HON’BLE JUDGES
Tarun Agarwala, Presiding Officer · M. T. Joshi, J
RESULT
Dismissed
CASE NUMBER
Appeal No. 377 Of 2021

AI Structured Summary

Not yet generated for this judgment

Judgment

12 paragraphs · 269 words
1.

Three weeks time is allowed to the respondent to file a reply. Three weeks thereafter to the appellant to file rejoinder. The matter would be taken

up for admission and for final disposal on July 30, 2021.

2.

We find that on the same issue an appeal has been filed by the appellant before the Supreme Court of India against the order of the Whole Time

Member (“WTM†for convenience) which is pending since 2013. On the next date the appellant shall inform about the status of its appeal before

the Supreme Court of India. Admittedly, as per the assertion made by the learned counsel for the appellant, the entire amount pursuant to the order of

the WTM has not been refunded. Thus, no case of stay of the impugned order has been made out. The stay application is rejected.

3.

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.

4.

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.