AI Structured Summary
Not yet generated for this judgment
Judgment
The appeals have been filed against the ex-parte order by the erstwhile promoters of the company. There is a delay of 917 days in the filing of the
appeals and accordingly an application for condonation of delay has been filed in each appeal. Amongst the many grounds urged the most prominent
ground is, that the appellants were never served with the impugned order. It is further stated that when the appellants became aware they applied for
a certified copy on August 21, 2018 and thereafter the present appeals were filed on September 14, 2018.
Thus, the delay if any in the filing of the appeals have been satisfactorily explained and the delay, if any, should be condoned.
Having heard the learned counsel for the appellants and the learned senior counsel for the respondent and having perused the reply filed by the
respondent, we find that there is no assertion of the fact as to when the copy of the impugned order was served/ delivered upon the appellants. Shri
Joshi, the learned senior counsel for the respondent submits on instructions so received to him that the original copy of the impugned order was
attempted to be delivered by courier but the same came back undelivered and for the third appellant the acknowledgment card came back but it was
not endorsed by any person.
In the light of the statement made, we are satisfied that the appellants were never served with the original copy of the impugned order. Section 15T
of the SEBI Act provides that an appeal is required to be filed within 45 days from the date of the receipt of the impugned order. In the instant case,
we find that no proof has been submitted by the respondent with regard to the service of the impugned order. We accordingly are satisfied that
sufficient cause has been shown to condone the delay. The applications for condonation of delay are allowed. Let the appeals and other misc.
applications be listed for admission on March 04, 2021.
Parties are directed to take instructions from the Registrar 48 hours before the date fixed in order to find out as to whether the matters would be
taken up for hearing through video conference or through physical hearing.
The present matters were heard through video conference due to Covid-19 pandemic. At this stage it is not possible to sign a copy of this order nor
a certified copy of this order could be issued by the Registry. In these circumstances, this order will be digitally signed by the Private Secretary on
behalf of the bench and all concerned parties are directed to act on the digitally signed copy of this order. Parties will act on production of a digitally
signed copy sent by fax and/or email.