Swojas Energy Foods Ltd And Others vs BSE Limited

Tarun Agarwala, Presiding Officer

The present appeal has been filed against the freezing of the demat accounts of the appellants. One of the contention raised by the appellant is that

without supplying any reason the demat accounts were frozen.

Having heard the learned Counsel for the parties and having perused the relevant e-mails on the subject in issue we find that the reasons for de-

freezing the accounts was duly supplied by the respondent, namely, non-payment of annual listing fee. Vide letter dated December 30, 2019 the

appellant no. 1was informed that a sum of Rs. 14,16,000/- towards annual listing fee is due and payable for the period 2015-16 to the period 2019-20.

Similar tax invoice was raised by the respondent on December 26, 2019 which is at page 21 of the affidavit filed by the appellants today.

In the light of the aforesaid, we see no reason to interfere in the freezing of the demat accounts at this stage.

A submission was made that the GST is not payable by the appellant. At this moment we are not getting involved in this controversy and we

dispose of the matter directing the appellant to deposit a sum of Rs. 14,16,000/- under protest. If such an amount is paid by the appellant the demat

accounts would be de-freezed. It would be thereafter open to the appellant to move an appropriate application requesting for refund of the GST which

has been imposed under the tax invoice dated December 26, 2019. If such an application is filed by the appellant, the respondent will duly consider and

pass an appropriate order expeditiously after giving the appellant an opportunity of hearing.

Appeal is disposed off with no order on costs. In view of the disposal of the appeal, Misc. Application No. 4 of 2020 does not survive and the same

is also disposed of accordingly.