3A Capital Services Limited vs Sebi
- CitationAppeal No.83 of 2018
Ratio decidendi
The rule this decision rests on
The Tribunal condones a delay of 93 days in filing the appeal on the reasons stated in the miscellaneous application, which it accepts as sufficient cause for condonation. The Tribunal disposes of the appeal on the basis of the stock exchange's statement, through counsel on instruction, that the appellant's representations would be disposed of within four weeks; it records that statement and accepts it, and no finding on the merits of the price-fixing grievance is made.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 16.4.2018
Misc. Application No.79 of 2018 And Appeal No.83 of 2018
3A Capital Services Limited 204, 2nd Floor, Sahyog Building, Above Central Bank of India, S.V. Road, Kandivali (W), Mumbai - 400 067. ..... Appellant
Versus
1.
Securities and Exchange Board of India Plot No.C4/A, G Block, BKC, Bandra (East), Mumbai - 400 051.
2. Bombay Stock Exchange Limited 25th Floor, P.J. Towers, Dalal Street, Mumbai - 400 001. ... Respondent
Mr. Sandeep Parekh, Advocate with Ms. Deepika Goyal, Advocate i/b. Finsec Law Advisors for the Appellant.
Mr. Gaurav Joshi, Senior Advocate with Mr. Pulkit Sukhramani and Ms. Vidhi Jhawar, Advocates i/b. The Law Point for the Respondent no.1. Mr. Manish Chhangani, Advocate with Enakshi Jha, Advocate i/b. Khaitan & Co. for the Respondent no.2.
CORAM : Justice J. P. Devadhar, Presiding Officer Dr. C.K.G. Nair, Member
Per : Justice J. P. Devadhar (Oral)
Misc. Application No.79 of 2018
1. There is a delay of 93 days in filing this appeal. For the reasons,
stated in the Misc. Application the delay is condoned.
2 2. Misc Application No.79 of 2018 is disposed of accordingly with no
order as to costs.
Appeal No. 83 of 2018 1. Basic grievance of the appellant is that the Bombay Stock Exchange
Limited has not disposed of the representations made by the appellant on
28.7.2017 and 23.9.2017 in so far as it relates to fixing the price of the
shares of Elcid Investments Limited.
2. Counsel for BSE on instruction states that the above representations
made by the appellant would be disposed of by BSE within a period of 4
weeks from today. Statement made by counsel for BSE is accepted.
3. Appeal is disposed of accordingly with no order as to costs.
Sd/-
Justice J.P. Devadhar Presiding Officer
Sd/-
Dr. C. K. G. Nair Member
16.4.2018 Prepared and compared by RHN
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