BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date:24.12.2020 Appeal No.534 of 2019 P.F. Sundesha & Ors. …Appellants Versus Securities and Exchange Board of India …Respondent Mr. Sumit Garg, Advocate with Mr. Nishant Varun, Ms. Rashi Verma and Kamal Budhiraja, Advocates for the Appellants. Mr. Shyam Mehta, Senior Advocate with Mr. Mihir Mody and Mr. Arnav Misra, Advocates i/b. K. Ashar & Co. for the Respondent. With Appeal No.535 of 2019 Aksh Optifibre Ltd. …Appellant Versus Securities and Exchange Board of India …Respondent Mr. Ravi Kadam, Senior Advocate with Mr. Sumit Garg, Mr. Nishant Varun, Ms. Rashi Verma and Mr. Kamal Budhiraja, Advocates for the Appellant. Mr. Shyam Mehta, Senior Advocate with Mr. Mihir Mody and Mr. Arnav Misra, Advocates i/b. K. Ashar & Co. for the Respondent. With Appeal No.536 of 2019 Dr. Kailash S. Choudhari …Appellant Versus Securities and Exchange Board of India …Respondent Mr. Sumit Garg, Advocate with Mr. Nishant Varun, Ms. Rashi Verma, Mr. Rahul Agarwal, Mr. Kamal Budhiraja, Advocates for the Appellant. Mr. Shyam Mehta, Senior Advocate with Mr. Mihir Mody and Mr. Arnav Misra, Advocates i/b. K. Ashar & Co. for the Respondent. With Appeal No.438 of 2019 Aksh Optifibre Ltd. …Appellant Versus Securities and Exchange Board of India …Respondent Mr. Kavin Gulati, Senior Advocate with Mr. Sumit Garg, Mr. Nishant Varun, Mr. Rashi Verma, Mr. Kamal Budhiraja, Advocates for the Appellant. Mr. Shyam Mehta, Senior Advocate with Mr. Mihir Mody and Mr. Arnav Misra, Advocates i/b. K. Ashar & Co. for the Respondent. With Appeal No.439 of 2019 Dr. Kailash S. Choudhari …Appellants Versus Securities and Exchange Board of India …Respondent Mr. Sumit Garg, Advocate with Mr. Nishant Varun, Ms. Rashi Verma, Mr. Rahul Agarwal, Mr. Kamal Budhiraja, Advocates for the Appellant. Mr. Shyam Mehta, Senior Advocate with Mr. Mihir Mody and Mr. Arnav Misra, Advocates i/b. K. Ashar & Co. for the Respondent. With Appeal No.440 of 2019 P.F. Sundesha & Ors. …Appellants Versus Securities and Exchange Board of India …Respondent Mr. Sumit Garg, Advocate with Mr. Nishant Varun, Ms. Rashi Verma and Mr. Kamal Budhiraja, Advocates for the Appellants. Mr. Shyam Mehta, Senior Advocate with Mr. Mihir Mody and Mr. Arnav Misra, Advocates i/b. K. Ashar & Co. for the Respondent. Order: Appeal nos.438, 439 and 440 of 2020

1. Since common issues are raised all these appeals are

taken up together. Connect with appeal no.534 of 2019.

2. Three weeks time is allowed to the respondent to file

reply. Two weeks thereafter to the appellant to file rejoinder. The matter would be listed for admission and for final disposal on 1st February, 2021. Appeal nos.534, 535 and 536 of 2019

3. The other appeal nos.534, 535 and 536 of 2019 will

also be taken up for consideration on 1st February, 2021.

4. Parties are directed to contact the Registrar 48 hours

before the date fixed to find out as to whether the hearing would take place through video conferencing or through physical hearing.

5. 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. Justice Tarun Agarwala RAJALAKSH DigitallyRAJALAKSHMIsignedHbyNAIR Presiding Officer MI H NAIR Date:15:41:502020.12.28+05'30' Dr. C.K.G. Nair Member Justice M.T. Joshi Judicial Member 24.12.2020 RHN