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Judgment
We have heard the learned counsel for the parties through video conference.
Three weeks time is allowed to the respondent to file a reply. Two weeks thereafter to the appellant to file a reply. Let the matter be listed for
admission and for final disposal on December 11, 2020.
It has been contended that the appellant is a preferential allottee and evidence to that effect has been filed before the authorities which has not been
considered. On the other hand a finding has been given that the scrip has been purchased through off-market It has also been stated that no
opportunity of hearing was granted to the appellant.
In the light of the aforesaid, the effect and operation of the impugned order shall remain stayed during the pendency of the appeal.
The urgency application and the stay application are disposed of accordingly.
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.