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Judgment
These four appeals arise from a common order and are being taken up together. Connect with appeal no.499 of 2020 and list on 2nd March, 2020.
In the meanwhile, we direct the respondent to file a reply within six weeks from today. Three weeks thereafter to the appellant to file rejoinder.
In this appeal the appellants have been charged for insider trading and one of the issues that arise for consideration is, whether the transfer of
shares from husband to wife amounts to insider trading. We find that the appellants have already deposited the amount of penalty under protest. In
view of the aforesaid, no interim order is required to be passed.
Parties are directed to contact the Registrar 48 hours before the date fixed to find out as to whether the hearing would take place through video
conferencing 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.