Asian Films Production & Distribution ... vs Sebi

DATE : 28.05.2019

Misc. Application No. 20 of 2019 And Appeal No. 15 of 2019 Asian Films Production & Distribution Ltd. 704, Sahajanand Complex, Shahibaug road Shahibaug, Ahmedabad, Gujarat 380004. ..... Appellant

Versus

BSE Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Kala Ghoda, Fort, Mumbai - 400 001. ... Respondent

Mr. Saurabh Bachhawat, Advocate i/b Shivangi Chavan, Advocate for the Appellant. Mr. Anubhav Ghosh, Advocate i/b The Law Point for the Respondent.

CORAM : Justice Tarun Agarwala, Presiding Officer Dr. C. K. G. Nair, Member Justice M. T. Joshi, Judicial Member

Per : Justice Tarun Agarwala, Presiding Officer (Oral)

1.

There is a delay of 49 days in filing the appeal. Cause shown

is sufficient. For the reasons stated in the application, delay is

condoned. Misc. Application is allowed. 2

2. The appellant has challenged the order dated July 2, 2018.

Further prayer is that consequential orders subsequent to the delisting

order should also be quashed.

3. From a perusal of the order dated July 2, 2018, we find that the

same is not an order of delisting of the appellant company. It is only

a notice pursuant to the delisting order dated June 26, 2018. We are

of the opinion that unless and until the order of delisting is

challenged, no relief can be granted to the appellant.

4. We, accordingly dismiss the appeal giving liberty to the

appellant to challenge the order of the delisting, if so advised.

Sd/-

Justice Tarun Agarwala Presiding Officer

Sd/-

Dr. C. K. G. Nair Member

Sd/-

Justice M. T. Joshi Judicial Member 28.05.2019 Prepared & Compared by PTM