IN THE SECURITIES APPELLATE TRIBUNAL

MUMBAI

Appeal No.83/2006

Date of Decision   30.06.2006

Mr. Pravin Samdani, Sr. Advocate   along with Mr. Girish Dave, Advocate  for the appellant.

Mr. Dipan Merchant, Sr. Advocate along with  Mr.Ravi Hegde, Advocate   for the Respondent.

 CORAM

        Justice N. K. Sodhi, Presiding Officer

        C. Bhattacharya, Member

        R. N. Bhardwaj, Member

Per:  Justice N. K. Sodhi, Presiding Officer(Oral)

          The learned senior counsel appearing for the appellant has placed before us a letter dated June 29, 2006 issued by the Securities & Exchange Board of India (for short the Board)whereby the appellant has been given an opportunity of hearing to appear before the whole time member of the Board.  The appellant has also been informed that the earlier decision communicated to it as per letter dated April 3, 2006 requiring it to disinvest the securities within three months has been kept in abeyance.  In view of this letter the learned senior counsel does not press the appeal.

          Dismissed as withdrawn.

Sd/-

Justice N. K. Sodhi
Presiding Officer

Sd/-

C. Bhattacharya
Member

Sd/-

R. N. Bhardwaj
Member