BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI

Date of Decision : 18.12.2013

Misc. Application No. 130 of 2013
And
Appeal No. 198 of 2013

Gajria Jayna Precision Industries Pvt. Ltd.
203, Pankaj House,
H Pocket Shopping Complex, Sarita Vihar,
New Delhi 110 076.

Appellant

Versus

Securities and Exchange Board of India
SEBI Bhavan, Plot No. C-4A, G Block,
Bandra Kurla Complex, Bandra (East),
Mumbai – 400 051.

      Respondent  

Mr. P.N. Modi, Senior Advocate with Mr. Vinay Chavan, Advocate for
Appellant.

Mr. Chirag Balsara, Advocate with Mr. Pratham Masurekar, Advocate for
Respondent.

WITH

Misc. Application No. 129 of 2013
And
Appeal No. 197 of 2013

Passion System Solutions Pvt. Ltd.
203, Pankaj House,
H Pocket Shopping Complex, Sarita Vihar,
New Delhi

2

Mr. Vinay Chavan, Advocate for the Appellant.

Mr. Chirag Balsara, Advocate with Mr. Pratham Masurekar, Advocate for
the Respondent.

CORAM : Justice J.P. Devadhar, Presiding Officer
Jog Singh, Member
A.S. Lamba, Member

Per : J.P. Devadhar (Oral)

1. Delay condoned by consent of both parties. Both Misc. Applications

are disposed of accordingly.

2. These two appeals are filed to challenge common order dated

December 19, 2012 passed by whole time member of the Securities and

Exchange Board of India confirming ex parte ad-interim order dated August

3, 2012 whereby appellants are restrained from accessing the securities

market and further prohibited from buying, selling or dealing in securities in

any manner whatsoever, till further directions.

3. Learned counsel for respondent states that the investigation against

appellants which is in progress would be completed by end of February,

2014 and if necessary, final order would be passed after issuing show cause

notice and after affording an opportunity of hearing to the appellants as

expeditiously as possible and in any event not later than June 30, 2014.

Learned counsel for appellants state that appellants would co-operate in the

matter. Statement of learned counsel for appellants and respondent is

3

accepted. It is made clear that no extension of time either to complete

investigation or for passing final order would be granted.

4. In view of aforesaid statement made by learned counsel for

respondent and accepted by this Tribunal, learned counsel for appellants

seek to withdraw both appeals. Accordingly, both appeals are allowed to be

withdrawn with no order as to costs.

               Sd/-   
     Justice J.P. Devadhar  

Presiding Officer

  Sd/-  
      Jog Singh  
                     Member  



            Sd/-  
    A.S. Lamba  

Member

18.12.2013
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