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Judgment
Heard learned counsel for the parties. The respondent is allowed three weeks time to file a reply. Rejoinder may be filed within three weeks thereafter. The matter would be listed for admission and for final disposal on April 29, 2022.
Considering the fact that the transactions occurred prior point of time before the appellant became a director, we direct that the effect and operation of the impugned order shall remain stayed till further orders.
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 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.