BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision: 06.11.2019 Misc. Application No. 530 of 2019 In Appeal No. 42 of 2017
1. Victor Fernandes B-604, Gill-Haze Apartments, Lourdes Colony, Orlem, Malad (West), Mumbai – 400 064
2. Sangeeta Fernandes B-604, Gill-Haze Apartments, Lourdes Colony, Orlem, Malad (West), Mumbai – 400 064 …Applicants/ Original Appellants
Versus
1. Securities and Exchange Board of India, SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051
2. National Stock Exchange of India Limited Exchange Plaza, C-1, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai-400 051
3. Reliance Industries Limited 3 rd Floor, Maker Chamber IV, 222, Nariman Point, Mumbai400 021 …Respondents/ Original Respondents
Mr. Victor Fernandes and Ms. S. Fernandes, Applicants in Person for the Applicants/Original Appellants Mr. Fredun DeVitre, Senior Advocate with Mr. Vishal Kanade and Mr. Mihir Mody, Advocates i/b K. Ashar & Co. for the Respondent/Original Respondent No. 1 Ms. Shreya Anuwal, Advocate i/b Manilal Kher Ambalal & Co. for Respondent/ Original Respondent No. 2 Mr. Janak Dwarkadas, Senior Advocate with Mr. Rohan Rajadhyaksha, Mr Vivek Shetty, Mr. Vedant Jalan and Mr. Harshit Jaiswal, Advocates i/b AZB & Partners for Respondent/ Original Respondent No. 3 CORAM: Justice Tarun Agarwala, Presiding Officer Dr. C.K.G. Nair, Member Justice M. T. Joshi, Judicial Member Per: Justice Tarun Agarwala (Oral)
1. We have heard the applicants in person as well as the
learned senior counsel for the respondent. The Tribunal by an order dated June 22, 2018 while disposing of the appeal had directed Securities and Exchange Board of India (“SEBI”) to consider the matter afresh in the light of the observation made in the order of the Tribunal. More than one year has elapsed and SEBI has not taken a decision. Accordingly, Misc. Application No. 530 of 2019 was filed by the applicants seeking further direction from the Tribunal.
2. An affidavit has been filed by SEBI indicating that fresh
order would be passed within two weeks. In the light of this statement stated on an affidavit, we dispose of the Misc. Application No. 530 of 2019 directing SEBI to ensure that an order is passed pursuant to the earlier order of this Tribunal dated June 22, 2018 on or before November 30. 2019. This order has been passed in the presence of Respondent No. 3 Sd/- Justice Tarun Agarwala Presiding Officer Sd/- Dr. C.K.G. Nair Member Sd/- Justice M. T. Joshi Judicial Member 06.11.2019 Prepared & Compared By: PK