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Judgment
Tarun Agarwala, Presiding Officer
On 1st March, 2021 this Tribunal passed the following order:
“It has been stated by Mr. Mehta, the learned senior counsel appearing for NSE that a forensic audit has been directed and within a couple of
weeks it will be found out as to who are the owners of the disputed shares which have been pledged with the appellant. Considering the aforesaid, we
restrained all the parties including the appellant from transferring/ selling the shares which are pledged with the appellant till further orders of this
Tribunal.â€
Pursuant to the aforesaid, it has been said that the forensic report has been submitted based on which an email has been sent by the respondent on
11th May, 2021 indicating that the shares depicted in annexure 2 does not belong to the client and, therefore, these shares which are pledged can be
sold for recovery of outstanding dues against the broker. Accordingly, a misc. application has been filed which has been put up for orders today.
Learned senior counsel for NSE Mr. Shyam Mehta states that the shares identified as exhibit 2 to the email dated 11th May, 2021 which is exhibit
A to the additional affidavit can be sold by the appellant for recovery of their outstanding dues. In this regard, we asked the learned counsel for the
broker respondent no.3 for his response and he has fairly conceded that he has no objection if the said shares are sold and adjusted towards the
recovery of outstanding dues against respondent no. 3.
Therefore, in modification of our order dated 1st March, 2021 we permit the appellant to sell the shares which are identified as Annexure 2 to the
email dated 11th May, 2021 and which is part of exhibit A to the additional affidavit. It is made clear that annexure 1 to the email is not being sold by
the appellant. We also direct the respondent no.1 to furnish a copy of the forensic report to the appellant within a week from today. Misc. application
is disposed of.
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 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.