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Judgment
Connect with Appeal no.599 of 2023.
Let a reply be filed by the respondent within three weeks. Rejoinder may be filed three weeks thereafter. Matter would be listed for admission and for final disposal on 22nd September, 2023.
Considering the finding that no benefit has been accrued to the Company due to misrepresentation as indicated in paragraph 151 of the impugned order we direct the appellant to deposit the penalty amount which shall be subject to the result of the appeal.
In the meanwhile, the restraint order restraining the appellant from accessing the securities market shall remain stayed as depicted in paragraph 151(i) of the impugned order. The stay application is disposed of accordingly.
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. Certified copy of this order is also available from the Registry on payment of usual charges.