AI Structured Summary
Not yet generated for this judgment
Judgment
Heard both the parties. Urgency application is allowed. Misc. Application No. 299 of 2020 is disposed of accordingly.
This appeal is filed against an Order passed by the Committee of NSE dated 27 July, 2020 whereby a penalty of Rs. 2.04 Crore and a day’s
suspension from the F&O segment have been directed against the Appellant. Learned Counsel for the appellant submitted that on account of the
demise of the director who was in charge, the appellant could not procced with the appeal immediately and, in the process, underwent the one-day
suspension and sought a stay on the direction to deposit the penalty till the appeal is decided.
Accordingly, we direct the appellant to deposit an amount of Rs. 75 lac within two weeks from the date of this order. The amount so deposited shall
be kept in an interest-bearing account by NSE and will be subject to the result of this appeal.
List on November 26, 2020.
We also direct the parties to approach the Registrar of this Tribunal 48 hours before the date fixed in order to find out as to whether the present
appeal would heard through video conference or through physical hearing depending on the prevailing situation.
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.