Securities Appellate TribunalDr. Kailash S. Choudhari vs Sebi on 24 December, 2020BEFORE THE SECURITIES APPELLATE TRIBUNAL\n                 MUMBAI\n\n\n                                         Date:24.12.2020\n\n\n                       Appeal No.534 of 2019\n\nP.F. Sundesha & Ors.                           ...Appellants\n\n                 Versus\n\nSecurities and Exchange Board of India       ...Respondent\n\n\nMr. Sumit Garg, Advocate with Mr. Nishant Varun, Ms.\nRashi Verma and Kamal Budhiraja, Advocates for the\nAppellants.\n\nMr. Shyam Mehta, Senior Advocate with Mr. Mihir\nMody and Mr. Arnav Misra, Advocates i/b. K. Ashar &\nCo. for the Respondent.\n\n\n                       With\n                       Appeal No.535 of 2019\n\nAksh Optifibre Ltd.                            ...Appellant\n\n                 Versus\n\nSecurities and Exchange Board of India       ...Respondent\n\nMr. Ravi Kadam, Senior Advocate with Mr. Sumit Garg,\nMr. Nishant Varun, Ms. Rashi Verma and Mr. Kamal\nBudhiraja, Advocates for the Appellant.\n                            2\n\n\n\n\nMr. Shyam Mehta, Senior Advocate with Mr. Mihir\nMody and Mr. Arnav Misra, Advocates i/b. K. Ashar &\nCo. for the Respondent.\n\n\n                      With\n                      Appeal No.536 of 2019\n\nDr. Kailash S. Choudhari                      ...Appellant\n\n                 Versus\n\nSecurities and Exchange Board of India    ...Respondent\n\nMr. Sumit Garg, Advocate with Mr. Nishant Varun, Ms.\nRashi Verma, Mr. Rahul Agarwal, Mr. Kamal Budhiraja,\nAdvocates for the Appellant.\n\nMr. Shyam Mehta, Senior Advocate with Mr. Mihir\nMody and Mr. Arnav Misra, Advocates i/b. K. Ashar &\nCo. for the Respondent.\n\n\n                      With\n                      Appeal No.438 of 2019\n\nAksh Optifibre Ltd.                           ...Appellant\n\n                 Versus\n\nSecurities and Exchange Board of India    ...Respondent\n\nMr. Kavin Gulati, Senior Advocate with Mr. Sumit Garg,\nMr. Nishant Varun, Mr. Rashi Verma, Mr. Kamal\nBudhiraja, Advocates for the Appellant.\n                             3\n\n\n\n\nMr. Shyam Mehta, Senior Advocate with Mr. Mihir\nMody and Mr. Arnav Misra, Advocates i/b. K. Ashar &\nCo. for the Respondent.\n\n                       With\n                       Appeal No.439 of 2019\n\nDr. Kailash S. Choudhari                       ...Appellants\n\n                 Versus\n\nSecurities and Exchange Board of India     ...Respondent\n\nMr. Sumit Garg, Advocate with Mr. Nishant Varun, Ms.\nRashi Verma, Mr. Rahul Agarwal, Mr. Kamal Budhiraja,\nAdvocates for the Appellant.\n\nMr. Shyam Mehta, Senior Advocate with Mr. Mihir\nMody and Mr. Arnav Misra, Advocates i/b. K. Ashar &\nCo. for the Respondent.\n\n\n                       With\n                       Appeal No.440 of 2019\n\nP.F. Sundesha & Ors.                           ...Appellants\n\n                 Versus\n\nSecurities and Exchange Board of India     ...Respondent\n\nMr. Sumit Garg, Advocate with Mr. Nishant Varun, Ms.\nRashi Verma and Mr. Kamal Budhiraja, Advocates for\nthe Appellants.\n\nMr. Shyam Mehta, Senior Advocate with Mr. Mihir\nMody and Mr. Arnav Misra, Advocates i/b. K. Ashar &\nCo. for the Respondent.\n                                4\n\n\n\n\nOrder:\n\nAppeal nos.438, 439 and 440 of 2020\n\n1.Since common issues are raised all these appeals are\n\n     taken up together.    Connect with appeal no.534 of\n\n     2019.2.     Three weeks time is allowed to the respondent to file\n\n     reply. Two weeks thereafter to the appellant to file\n\n     rejoinder. The matter would be listed for admission\n\n     and for final disposal on 1st February, 2021.\n\nAppeal nos.534, 535 and 536 of 20193.     The other appeal nos.534, 535 and 536 of 2019 will\n\n     also be taken up for consideration on 1st February,\n\n     2021.4.     Parties are directed to contact the Registrar 48 hours\n\n     before the date fixed to find out as to whether the\n\n     hearing would take place through video conferencing\n\n     or through physical hearing.5.      The present matter was heard through video\n\n     conference due to Covid-19 pandemic. At this stage it5is not possible to sign a copy of this order nor a\n\n  certified copy of this order could be issued by the\n\n  registry. In these circumstances, this order will be\n\n  digitally signed by the Private Secretary on behalf of\n\n  the bench and all concerned parties are directed to act\n\n  on the digitally signed copy of this order. Parties will\n\n  act on production of a digitally signed copy sent by fax\n\n  and/or email.Justice Tarun AgarwalaDigitally signed byRAJALAKSH   RAJALAKSHMI H NAIR         Presiding Officer\n             MI H NAIR   Date: 2020.12.28\n                         15:41:50 +05'30'\n\n\n\n\n                                                   Dr. C.K.G. Nair\n                                                     Member\n\n\n\n                                                  Justice M.T. Joshi\n                                                 Judicial Member\n\n24.12.2020\nRHN