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Judgment
We have heard Shri Ninad Deshpande, the learned counsel for the appellant. Mr. Pradeep Sancheti, the learned senior counsel alongwith Mr. Mihir
Mody, the learned counsel for SEBI and Mr. Ravichandra Hegde, the learned counsel for the respondent No. 2.
All the respondents are allowed four weeks’ time to file a reply. Two weeks thereafter to the appellant to file rejoinder. List this matter for
admission and for final disposal on August 7, 2020.
Parties will seek instructions from the Registrar 48 hrs. before the date fixed on the issue whether the parties will be heard through physical hearing
or video conference depending upon the prevailing situation existing at that time.
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.