BEFORE THE SECURITIES APPELLATE TRIBUNAL

MUMBAI

Date: 20.01.2022

Review Application No. 37 of 2021

And

Appeal No. 250 of 2019

Sahara India Commercial

Corporate Ltd. & Anr.

…Appellants

Versus

Securities and Exchange Board of India

…Respondent

Mr. Sahil Gandhi, Advocate with Mr. Ankur Kalal, Advocate

i/b M/s. Markand Gandhi and Co. for the Appellants.

Mr. Kevic Setalvad, Senior Advocate with Mr. Mihir Mody,

Ms. Sneha Prabhu, Mr. Arnav Misra and Mr. Mayur Jaisingh,

Advocates i/b. K. Ashar & Co. for Respondent SEBI.

WITH

Appeal No. 251 of 2019

Shri Subrata Roy Sahara & Ors. …Appellants

Versus

Securities and Exchange Board of India

…Respondent

Mr. Somasekhar Sundaresan, Advocate with Ms. Neeta

Jain, Mr. Sahil Gandhi and Mr. Ankur Kalal, Advocates i/b M/s.

Markand Gandhi and Co. for the Appellants.

Mr. Kevic Setalvad, Senior Advocate with Mr. Mihir Mody,

Ms. Sneha Prabhu, Mr. Arnav Misra and Mr. Mayur Jaisingh,

Advocates i/b. K. Ashar & Co. for Respondent SEBI.

2

AND

Appeal No. 252 of 2019

Mr. I Ahmed & Ors.

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Feroze Patel, Advocate with Mr. Shivanand Mishra and Mr.

Dhananjay Dubey, Advocates for the Appellants.

Mr. Kevic Setalvad, Senior Advocate with Mr. Mihir Mody,

Ms. Sneha Prabhu, Mr. Arnav Misra and Mr. Mayur Jaisingh,

Advocates i/b. K. Ashar & Co. for Respondent SEBI.

ORDER:

1.

The Tribunal has been informed that against our interim

order dated 18.11.2021 the appellant has filed a review

application. The learned counsel for the appellant states that the

arguing counsel is in some medical difficulty and is unable to

argue the matter today.

2.

On the other hand, Shri Setalvad, the learned senior

counsel for the respondent submitted that Securities and

Exchange Board of India (“SEBI”) has filed an appeal before

the Supreme Court against the interim order passed by this

Tribunal which will come up for admission shortly before the

Supreme Court. The learned senior counsel has prayed for

adjournment to enable him to seek appropriate instructions.

3

3.

Considering the aforesaid, the hearing of the appeal is

adjourned. List on March 09, 2022.

4.

Parties are directed to take instructions from the Registrar

48 hrs. before the date fixed in order to find out as to whether

the matters would be taken up for hearing through video

conference or through physical hearing.

5.

The present matters were heard through video conference

due to Covid-19 pandemic. At this stage it is not possible to sign

a copy of this order nor a certified copy of this order could be

issued by the Registry. In these circumstances, this order will be

digitally signed by the Private Secretary on behalf of the bench

and all concerned parties are directed to act on the digitally

signed copy of this order. Parties will act on production of a

digitally signed copy sent by fax and/or email.

Justice Tarun Agarwala

Presiding Officer

Justice M. T. Joshi

Judicial Member

20.01.2022

PK

RAJALAK

SHMI H

NAIR

Digitally signed

by RAJALAKSHMI

H NAIR

Date: 2022.01.24

12:30:39 +05'30'