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Judgment
These illiquid matters have come up for hearing today through video conference. We have been informed that the settlement scheme dated
1August2020 has been introduced by the respondent for settlement of the penalty / violation of the law. Most of the advocates appearing for the
appellants have contended that the settlement amount as per the scheme is far more than the penalty amount imposed under the impugned order and
therefore such settlement is not viable in the first flush. Others have stated that some of the appellants would opt for settlement. Considering the
aforesaid we adjourn the matters to enable the learned counsel for the appellants to seek appropriate instructions from their clients. On the next date,
all the appellants will file an affidavit intimating the Tribunal as to whether they are accepting the settlement scheme or not. In the event, the
settlement scheme is not accepted by the appellants the matters will be heard on merits on the next date.
List on 26August 2020.