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Judgment
Connect with Appeal (L) No. 500 of 2020 (Brickwork Rating India Pvt. Ltd. vs SEBI) and list on January 18, 2021.
There is delay in filing the appeal. For the reasons stated in the application, the delay in filing the appeal is condoned. The application is allowed.
In the meanwhile, three weeks time is allowed to the respondent to file a reply. 10 days thereafter to the appellant to file a rejoinder.
Considering the facts and circumstances, we direct the appellant to deposit a sum of Rs. 20 lakh before the respondent within four weeks from
today which amount shall be kept in an interest bearing account and would be subject to the result of the appeal. If the said amount is deposited the
balance amount shall not be recovered during the pendency of the appeal.
Parties are directed to take instructions from the Registrar 48 hours before the date fixed in order to find out as to whether the matter would be
taken up for hearing through video conference or through physical hearing.
The present matter was 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 Presiding Officer 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.