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In the matter of Dhar Textiles Mills Ltd

Apr 13, 2004
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Orders : Orders of SAT

BEFORE THE SECURITIES APPELLATE TRIBUNAL

MUMBAI

                                             Appeal No.14/2004                                              

Date of Hearing

13.4.2004

Date of Decision

13.4.2004

 

In the matter of:

 

The Dhar Textile Mills Ltd.

Appellant – Represented by

 

Shri Vijayesh Atre,

Practising Company Secretary

 

Versus

 

 

The Stock Exchange, Mumbai

Respondent – Represented by

 

S/Shri P.N.Modi and

Sagar Divekar, Advocates

Coram:

            Justice Shri Kumar Rajaratnam, Presiding Officer

            Dr. B. Samal, Member

            N.L. Lakhanpal, Member

Per:  Justice Kumar Rajaratnam, Presiding Officer

   1.            Heard the counsel for appellant and counsel for respondent.  The appeal is taken up for final hearing with the consent of the parties.  A statement has been made on behalf of the respondent stating that he has not given the appellant sufficient opportunity before the impugned order was passed.  The respondent has also stated that he has decided to withdraw the impugned order dated 29th of December 2003 and will give the appellant a fresh opportunity.  The statement has been made in writing and reads as follows:

“In view of the Appellant’s contention that it was not made aware of the details of the investigation, and, therefore, not given a sufficient opportunity to respond thereto prior to the rejection of its Listing Application dated 14th December 2001 by the Impugned Order, which was communicated by the Exchange vide its letter dated 28th December, 2003 (Annexure 6 to the Appeal), the Respondent has decided to withdraw the said order dated 28th December 2003, and give the Appellant a fesh opportunity / hearing in respect of the appellant’s said Listing Application, after which, the Exchange will pass appropriate orders in the matter.”

2.         Accordingly, the impugned order is set aside by consent of parties and the respondent is at liberty to issue a fresh notice and dispose of the matter after hearing the aggrieved party. 

3.         No order as to cost.

(Pronounced in Court)

                                                                  Sd/-
                                                                     Justice Kumar Rajaratnam

                                                    Presiding Officer

            Sd/-

N.L. Lakhanpal

Member
Sd/-
B. Samal

Member

Place: Mumbai

Date:  April 13, 2004.

 

Avm