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Tribunals and CommissionsDivision Bench(2023) 03 SEBI CK 0010

Raghunandan Capital Pvt. Ltd vs National Stock Exchange Of India Ltd

Securities Appellate Tribunal Mumbai · Decided on 2 March 2023

HON’BLE JUDGES
Tarun Agarwala Presiding Officer · Meera Swarup Technical Member
RESULT
Allowed
CASE NUMBER
Miscellaneous Application No. 193 Of 2023, Appeal No. 223 Of 2023
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Judgment

5 paragraphs · 190 words
1.

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

2.

For the same violation the Stock Exchange has only issued a warning as is clear by letter dated September 29, 2022 ‘Exhibit V’ at page 242 of the memorandum of appeal. On the other hand, by the impugned order the National Stock Exchange of India Limited (“NSE”) has imposed a penalty.

3.

Let a reply be filed by the respondent within three weeks. Rejoinder may be filed three weeks thereafter. List this matter for admission and for final disposal on April 28, 2023.

4.

In the meanwhile, the appellant shall deposit 50% of the penalty amount within four weeks from today. If the amount is deposited the balance amount shall not be recovered during the pendency of the appeal.

5.

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. Certified copy of this order is also available from the Registry on payment of usual charges.