BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date of Decision: 25.04.2019
Appeal No. 312 of 2018
Landmarc Leisure Corporation Limited
303, Raaj Chamber, 115
R.K. Paramhans Marg (Old Nagardas Road),
Near Andheri Station Subway,
Andheri (E), Mumbai- 400 069
…Appellant
Versus
1. Securities and Exchange Board of India,
SEBI Bhavan, Plot No. C-4A, G-Block,
Bandra-Kurla Complex, Bandra (East),
Mumbai – 400 051
2. BSE Limited
25th Floor, P.J. Towers,
Dalal Street,
Mumbai- 400 001
…Respondents
Mr. Nithish Bangera, Practicing Company Secretary for the
Appellant.
Mr. Vivek Shah, Advocate with Mr. Abhiraj Arora, Advocate
i/b ELP for Respondent No. 1
Mr. Anubhav Ghosh, Advocate with Ms. Vidhi Jhawar,
Advocate i/b The Law Point for Respondent No. 2
CORAM: Justice Tarun Agarwala, Presiding Officer
Dr. C.K.G. Nair, Member
Justice M. T. Joshi, Judicial Member
Per: Justice Tarun Agarwala (Oral)
1.

Being aggrieved by the interim order dated October 06,
2017 and confirmatory order dated June 05, 2018 passed by the
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Securities and Exchange Board of India (“SEBI” for
convenience) the present appeal was filed for its quashing.
During the course of the hearing, the appellant urged that the
appeal could be disposed of with a direction to the Stock
Exchange to complete the Forensic Audit at the earliest as
directed in the interim order and confirmatory order.

The
Tribunal in its earlier order had directed the said respondent to
provide the status of the Forensic Audit. It was contended, that
the appellant is not co-operating in the Forensic Audit and that
certain documents have only been filed as on April 21, 2019.

2.

Be that as it may. We are of the opinion, that the Stock
Exchange should complete the Forensic Audit as early as
possible.

Without going into the merits of the appeal, we
dispose of the matter directing the Stock Exchange to complete
the Forensic Audit and submit the report to SEBI on or before
June 15, 2019. The appeal is accordingly disposed off with the
aforesaid observation.
Sd/Justice Tarun Agarwala
Presiding Officer
Sd/Dr. C.K.G. Nair
Member
Sd/Justice M. T. Joshi
Judicial Member
25.04.2019
Prepared & Compared By: PK