Rajeev Vasant Sheth & Ors vs Securities And Exchange Board Of India

Having heard the learned counsel for the parties, we grant three weeks’ time to the respondent to file a reply. Three weeks thereafter to the

appellants to file rejoinder. The matter would be listed for admission and for final disposal on October 18, 2021.

In the meanwhile, the effect and operation of the impugned order shall remain stayed till the pendency of the appeal provided the appellant Rajeev

Vasant Sheth deposits a sum of Rs. 50 lac within four weeks from today before the respondent. In so far as the appellant Nos. 2 and 3 are concerned,

the amount already deposited in the escrow account will continue to remain in the escrow account which is subject to result of the appeal.

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.