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

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 accepted. It is made clear that no e 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 Accordingly, both appeals are allowed to be withdrawn with no order as to costs.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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