BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI
Date of Decision: 9.8.2019

Misc. Application No.431 of 2019
And
Appeal No.355 of 2019

Bharat Road Network Limited (BRNL)
Vishwakarma Building, 86C,
Topsia Road (South),
Kolkata-700046. ….. Appellant

Versus

Securities & Exchange Board of India
SEBI Bhavan, Plot No.C4-A,
“G” Block, Bandra Kurla Complex,
Bandra (E), Mumbai – 400 051. …… Respondent

Mr. Nimay Dave, Advocate with Ms. Aparna Wagle, Mr. Yash Garach, Advocates i/b. Alliance Law Advocates for the Appellant.

Mr. Pradeep Sancheti, Senior Advocate with Mr. Mihir Mody and Mr. Sushant Yadav, Advocate i/b. K. Ashar & Co. for the Respondent.

CORAM: Justice Tarun Agarwala, Presiding Officer
Dr. C.K.G. Nair, Member
Justice M.T. Joshi, Judicial Member
Per : Justice Tarun Agarwala (Oral)

Misc. Application No.431 of 2019

For the reasons stated in the application, the delay in filing the appeal is condoned. The Misc. Application is allowed.

Appeal No.355 of 2019

1.The appellant is challenging ex-parte ad-interim order dated 14th March, 2019. One of the contentions raised by the appellant is that no opportunity of hearing was given. Learned counsel for SEBI contends that after the passing of the impugned order the appellant was heard in June, 2019 and written submissions were filed by the appellant in July, 2019. It was further contended that the final order will be passed within a month.

2.Considering the aforesaid, we dispose of the appeal without going into the merits of the case directing the
respondent to pass a final order within four weeks from today. In the event, the order is not passed it would be open to the appellant to file an application for recall of our order.

Sd/Justice Tarun Agarwala Presiding Officer Sd/Dr. C. K. G. Nair Member Sd/Justice M.T. Joshi Judicial Member
9.8.2019 Prepared and compared by RHN