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Judgment
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Meera Swarup, Technical Member
Having heard the learned counsel for the parties, the respondent is directed to file a reply within three weeks’ from today. Appellants may file the rejoinder within three weeks thereafter. The matter would be listed for admission and for final disposal on June 18, 2024.
As an interim measure, the direction given in paragraph No. 85(a) of the impugned order are stayed with respect to the appellants. With regard to the directions contained in paragraph Nos. 85(b), the appellants have already deposited Rs. 1.12 crore in an escrow account. No further action to recover the balance amount for the purpose of disgorgement shall be taken by the respondent during the pendency of the appeal.
With respect to direction in paragraph nos. 85(e), the appellants are directed to deposit 50% of the penalty imposed within four weeks from today. If the said amount is deposited, no coercive steps shall be taken by the respondent during the pendency of the appeal.
Urgency and stay applications are disposed of.