IN THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Appeal No: 74 of 2003
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Date of Decision
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26/04/2006
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Duphar Interfran Ltd.
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…..Appellant
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Versus
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1. Securities & Exchange Board of India
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2. Mrs. Renuka Datla
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3. Mr. Vijay Kumar Datla
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….Respondents
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Mr. Navroz Seervai, Sr. Advocate with Mr. Firdos Poonawalla, Advocate for the appellant
Mr. Kumar Desai, Advocate for respondent no.1.
Mr. Shyam Mehta, Advocate for respondents nos.2 and 3
CORAM
Justice N.K. Sodhi, Presiding Officer
C. Bhattacharya, Member
R.N. Bhardwaj, Member
Per: Justice N.K. Sodhi, Presiding Officer
Learned counsel appearing for Respondents nos. 2 and 3 state that they are not pressing the claim of their clients against the appellant company to be declared as promoters in the present proceedings. They further state that the letter dated December 30, 2002 addressed by these Respondents to the appellant company be deemed to have been withdrawn. The consent of Respondents nos. 2 and 3 duly signed by them and their solicitors has been filed in Court today which is taken on record.
In view of the statement made by the learned counsel for Respondents nos. 2 and 3 the learned counsel for the appellant withdraws the present appeal.
We may, however, mention that the Securities and Exchange Board of India which is respondent no.1 in the appeal is not a party to the terms agreed to between Respondents nos. 2 and 3 and the appellant. In any case, the learned counsel appearing for Respondent no.1 states that the impugned letter dated 16/04/2003 does not constitute an appealable order and that the appeal itself is not maintainable. Since the appellant is withdrawing the appeal and the matter appears to have been settled between it and Respondents nos. 2 and 3, we do not think it necessary to express any view in this regard.
Dismissed as withdrawn.
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Justice N.K. Sodhi
Presiding Officer
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C.Bhattacharya
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Member
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R.N.Bhardwaj
Member
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