IN THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Appeal Nos: 149 to 151 of 2005
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Date of Hearing
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04/10/2005
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Date of Decision
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04/10/2005
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Appellants – Represented by:
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Badriprasad & Sons
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Mr. Anand Kumar Tiwari, Chartered Accountant
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Ram Mohan Sarda
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Rajendra Prasad Shah
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Versus
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Securities & Exchange Board of India
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Respondent- Represented by
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Mr. Dipan Merchant along with Mr. V.N. Shingnapurkar, Advocates
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CORAM
C. Bhattacharya, Member
R.N. Bhardwaj, Member
Per: C. Bhattacharya, Member
1. Heard the Counsel for the appellants and the Counsel for the respondent.
2. The appeals are premature at this stage as the process is continuing. SEBI has not issued any final orders. The order impugned in these appeals are only an interim order and has given time to the appellants to submit their case before SEBI within 15 days and ask for personal hearing, which is in accordance with the process of natural justice. The appellants should avail of these opportunities to allow the process to be completed and exhaust all the remedies there before they approach the Tribunal.
3. The Appeals are dismissed. No order as to costs.
(Dictated & Pronounced in Court)
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(R.N.Bhardwaj)
Member
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(C. Bhattacharya)
Member
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Place: Mumbai
Date: 04/10/2005
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