BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date: 24.12.2020 Misc. Application No. 561 of 2020 (Stay Application) And Appeal Lodging No. 583 of 2020 Ishwari Bajpai …Appellant Versus Securities and Exchange Board of India …Respondent Mr. Somasekhar Sundaresan, Advocate with Ms. Shruti Rajan, Ms. Garima Joshi, Ms. Yugandhara Khanwilkar, Mr. Vivek Shah, Mr. Anurag Gupta, Advocates i/b Trilegal for the Appellant. Mr. Venkatesh Dhond, Senior Advocate with Mr. Mihir Mody and Mr. Arnav Misra, Advocates i/b K. Ashar & Co. for the Respondent. ORDER:

1. We have heard the learned senior counsel/ learned counsel

for the parties through video conference.

2. Connect with Appeal Lodging No. 582 of 2020. The

appellant has been directed to pay a disgorged amount of Rs. 8.80 lakhs and has further been restrained from accessing the securities market for a period of 1 year. The bank accounts and demat accounts have also been frozen. The transaction relates to the period of 2006-2007. Considering that there has been an undue delay and the hearing in the matter was reserved on September 26, 2019 we direct the respondent to file a reply within four weeks from today. Two weeks thereafter to the appellant to file rejoinder. The matter would be listed for admission and for final disposal on February 10, 2021. In the meanwhile, the effect and operation of the impugned order shall remain stayed provided the appellant deposits a sum of Rs. 4.40 lakhs within four weeks from today.

3. Parties are directed to take instructions from the Registrar

48 hrs. before the date fixed in order to find out as to whether the matter would be taken up for hearing through video conference or through physical hearing.

4. 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. Digitally signed Justice Tarun Agarwala RAJALAK by RAJALAKSHMI Presiding Officer H NAIR SHMI H Date: 2020.12.28 NAIR 15:46:35 +05'30' Dr. C.K.G. Nair Member Justice M. T. Joshi Judicial Member 24.12.2020 PK