BEFORE
THE
SECURITIES APPELLATE
MUMBAI
TRIBUNAL
DATE : 03.01.2019
Misc. Application No. 203 of 2018
And
Misc. Application No. 426 of 2018
And
Appeal No. 197 of 2018
Mr. Ashok Kumar
….. Appellant
Versus
Securities and Exchange Board of India
… Respondent
Mr. Ankit Lohia, Advocate with Ms. Yasmin Bhansali, Advocate i/b Yasmin
Bhansali & Co. for the Appellant.
Mr. Gaurav Joshi, Senior Advocate with Mr. Mihir Mody, Mr. Nishant Upadhyay,
Advocates i/b K. Ashar & Co. for the Respondent.
ORDER :
1.

We have heard the learned counsel for the parties on Misc. Application No.

203 of 2018 for condonation of delay in filing the present appeal. There is a delay
of 215 days in filing the appeal. The impugned order is dated September 5, 2017.
It was urged that the appellant had no access to information and documents
pertaining to the affairs of the company as all the documents, computers, hard
discs had been seized by the Economic Offences Wing (EOW). It was urged that
the data in the hard discs and the hard drives were essential for the purpose of
filing an effective appeal. The appellant, accordingly, applied for a copy of the
hard discs before the Court of the Chief Metropolitan Magistrate, New Delhi in
January 2018 and, eventually, the Magistrate had passed an order in March 2018
allowing his application and directing the authority to supply a copy of the hard
disc. Thereafter, the present appeal was filed on June 4, 2018.

2.

The learned counsel for the opposite party contended that no material has
been indicated in the memo of appeal which could bear some light on the fact that
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these documents were part of the hard discs which would be considered and
utilized for the purpose of filing the appeal.

3.

Be that as it may. Considering the submissions made by the appellant and
the assertions made in the application for condoning the delay, we are of the
opinion that in the interest of justice, the delay in filing the appeal should be
condoned.

4.

Accordingly, Misc. Application No. 203 of 2018 is allowed. The delay in
filing the appeal is condoned subject to payment of costs of Rs. 50,000/- in favour
of The Registrar, Securities Appellate Tribunal Mumbai by way of a Demand
Draft drawn on any nationalized bank. Costs may be deposited by January 7, 2019
and if the same is done by January 7, 2019, the appeal alongwith stay application
would be listed for admission on January 8, 2019.

Sd/Justice Tarun Agarwala
Presiding Officer
Sd/Dr. C. K. G. Nair
Member
03.01.2019
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