In the matter of Bansal Sharevest Services Ltd

IN THE SECURITIES APPELLATE TRIBUNAL

MUMBAI

 

Appeal No: 58 of 2006

 

Date of Decision

07/04/2006

 

 

Bansal Sharevest Services Ltd.	…..Appellant
Versus
Securities & Exchange Board of India & Others			….Respondent

 

Mr. Virender Ganda, Advocate for the appellant

Mr. Mr. Kumar Desai, Advocate for Respondent No. 1.

 

CORAM

 

          Justice N.K. Sodhi, Presiding Officer

          C. Bhattacharya, Member

          R.N. Bhardwaj, Member

         

Per:    Justice N.K. Sodhi, Presiding Officer

 

1.                  This appeal should not detain us for long.  It is directed against an interim order dated 16/12/2003 whereby the ex-parte order dated 23/07/2003 was confirmed and the appellant along with the broker was prohibited from buying, selling or dealing in securities pending further orders.

2.                  The grievance of the appellant appears to be that the proceedings have not yet been finalized. It is not in dispute that the appeal could be filed within 45 days from the date of receipt of the order. The present appeal has been filed after a long delay.  The learned counsel appearing for respondent no.1  very fairly states that the pending proceedings before SEBI would be finally disposed of on or before June 30, 2006 after affording to the appellant an opportunity of hearing. In view of this statement the learned counsel for the appellant prays that he may be allowed to withdraw the appeal.

3.                  Dismissed as withdrawn.

  Sd/-

Justice N.K. Sodhi
Presiding Officer

Sd/-

C.Bhattacharya
Member

Sd/-

R.N.Bhardwaj
Member

 

Date:   07/04/2006