Appeal No. 40 of 2005
Date of Decision
13.6.2006
S.S. Corporate Securities Ltd.
Versus
Securities & Exchange Board of India
National Stock Exchange of India Ltd.
Present : Mr. Ravikumar Varanasi, Advocate for the appellant
Mr. Dipan Merchant, Sr. Advocate with Mr. U.N. Das, Advocate for respondent no. 1
Coram:
Justice N.K. Sodhi, Presiding Officer
R. N. Bhardwaj, Member
Per: Justice N.K. Sodhi, Presiding Officer (oral)
Having heard the learned counsel for the parties we are clearly of the view that the present appeal is not maintainable. It is directed against the notice dated October 8, 2003 calling upon the appellant to show cause as to why penalties specified in Regulation 13(1) of the enquiry regulations be not imposed. This notice came to be issued because, according to the respondent Board, the appellant had failed to pay the registration fee. The learned senior counsel appearing for the Board informs us that on receipt of the aforesaid notice the appellant deposited the arrears of fee due from it and that the proceedings in pursuance thereof have since been dropped.
2. In view of what has been stated on behalf of the Board the appeal has become infructuous. Not only this, there is no order passed by the Board against which the present appeal has been filed. It is accordingly dismissed with no order as to costs.
Justice N.K. SodhiPresiding Officer
R.N.BhardwajMember