2019 (12) TMI 1648 - AT - SEBI

Offence under SEBI Act - fraudulent scheme of issuing GDR with an ulterior motive - HELD THAT - Heard the appeal at the stage of admission. Learned senior counsel for the respondent submitted that the orders are yet to be passed in the proceedings and all the grievances of the appellant can be made before the Whole Time Member. He also fairly submitted that the proceedings can be possibly disposed of within six months from today. In view of the said statement, the appeal is disposed of at this stage with no orders as to costs.

Summary

The Securities Appellate Tribunal Mumbai condoned a delay of 657 days in filing an appeal and disposed of the Misc. Application No. 582 of 2019. The appeal no. 485 of 2019 was disposed of at the stage of admission with no orders as to costs, as the respondent assured that the proceedings could be possibly disposed of within six months.