BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision: 27.3.2019 Misc. Application No.54 of 2019 And Appeal No.47 of 2019 Birla Pacific Medspa Limited Dalamal House, 1st Floor, Nariman Point, Mumbai – 400021. …. Appellant Versus BSE Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001. .… Respondent Mr. Deepak Dhane, Advocate i/b. Corporate Pleader for the Appellant. Mr. Tomu Francis, Advocate with Mr. Arka Saha, Advocate i/b. Khaitan & 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)

1. Having heard the learned counsel for the appellant we find that

there is an inordinate delay of 207 days in filing the appeal. The impugned order has been passed against an order of compulsory delisting of the Company. Such order if challenged is normally required to be filed within 15 days under Section 21A of the Securities Contract (Regulation) Rules, 1957 (hereinafter referred to as ‘SCRR’). In the instant case, there is an inordinate delay of 207 days.

2. The ground urged as depicted in para 6 of the application is that

if after the passing of the impugned order the appellant had started exploring the implication of the impugned order and in that process consulted a number of advisors which took some time. In our opinion, this is not a cogent or legal ground on which the delay could be condoned. Such assertion which apparently is vague is also not supported by any material evidence. We, therefore, see no reason to condone the delay. The application for condoning the delay is rejected and consequently the appeal is also dismissed. Sd/- Justice Tarun Agarwala Presiding Officer Sd/- Dr. C. K. G. Nair Member Sd/- Justice M.T. Joshi Judicial Member 27.3.2019 Prepared and compared by RHN