BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date : 20.05.2019 Misc. Application No. 254 of 2019 In Appeal No. 184 of 2019 OPG Securities Pvt. Ltd. & Ors. …Appellants Versus Securities and Exchange Board of India …Respondent Mr. Gaurav Joshi, Senior Advocate with Mr. Ravichandra Hegde and Ms. Mitravinda Chunduru, Advocates i/b Parinam Law Associates for Appellants. Mr. Mustafa Doctor, Senior Advocate with Mr. Anubhav Ghosh and Ms. Rashi Dalmia, Advocates i/b The Law Point for the Respondent. ORDER:

1. By our order dated May 6, 2019 we had directed the

appellants to deposit a sum of Rs. 7.5 crore before the respondent on or before May 20, 2019. The appellants has moved the present Misc. Application No. 254 of 2019 for modification of the said order contending that they may be permitted to deposit a sum of Rs. 99 lakh in cash and the balance amount by way of securities.

2. Having heard the learned senior counsel for the appellants

we do not find any merit in the modification application. We, however, modify the order to the extent that it would be open to the appellants to deposit a sum of Rs. 7.5 crore in cash or in the form of a bank guarantee given from a nationalized bank to be deposited before the respondent on or before May 30, 2019 failing which the interim order shall stand vacated automatically. Amount so deposited before the respondent shall be kept in an escrow account.

3. Misc. Application is disposed of.

Sd/- Justice Tarun Agarwala Presiding Officer Sd/- Justice M.T. Joshi Judicial Member 20.05.2019 Prepared and compared by:msb