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TMI Blog2014 (1) TMI 1659X X X X Extracts X X X X X X X X Extracts X X X X ..... till 6 crore is paid by appellants - Held that:- Counsel for respondent, though objects to lifting attachment levied on various bank accounts, he does not dispute that value of shares in Demat A/c no. 40333429 are sufficient to cover demands raised against appellants. In these circumstances, since no prejudice is likely to be caused to respondent, we direct that shares in joint demat Account No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omjee, Senior Advocate with Mr. Mihir Mody, Advocate Per : Justice J. P. Devadhar (Oral) This appeal is basically filed to challenge SEBI's order dated October 29, 2013 whereby various bank accounts of appellants have been attached to recover amounts due under disgorgement order dated July 21, 2009. By disgorgement order dated July 21, 2009, appellants were called upon to disgorge unlawful gain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cember 6, 2013, this Tribunal lifted attachment on three bank accounts of the appellants subject to conditions set out therein. Both parties agree that during pendency of present appeal, appellants have paid ₹ 6 crore to the respondent. Question now to be considered is, whether appellants are liable to pay interest on disgorgement amount till ₹ 6 crore is paid by appellants. 5. Admitt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellants. He further submits that the demand under communication dated January 16, 2014 being crystallized at ₹ 2,13,30,000/- together with interest from December 13, 2013 to January 5, 2014 on ₹ 4.05 crore, it would be just and proper to continue attachment on any one account to secure aforesaid amount and lift attachment on other bank accounts. Accordingly, counsel for appellants ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ication dated January 16, 2014, respondent shall not take coercive steps to enforce demand raised under above communication dated January 16, 2014 from the attached demat account no. 40333429 for a period of four weeks from today. 11. Counsel for appellant's further state that appellants would like to make an application to SEBI for lifting additional debarment imposed upon appellants for non com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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