CARE Ratings Limited vs SEBI on 9 December 2019

ORDER:

1. Connect with Appeal (L) No. 500 of 2020 (Brickwork Rating India Pvt. Ltd. vs SEBI) and list on January 18, 2021.

2. There is delay in filing the appeal. For the reasons stated in the application, the delay in filing the appeal is condoned. The application is allowed.

3. In the meanwhile, three weeks time is allowed to the respondent to file a reply. 10 days thereafter to the appellant to file a rejoinder.

4. Considering the facts and circumstances, we direct the appellant to deposit a sum of Rs. 20 lakh before the respondent within four weeks from today which amount shall be kept in an interest bearing account and would be subject to the result of the appeal. If the said amount is deposited the balance amount shall not be recovered during the pendency of the appeal.

5. Parties are directed to take instructions from the Registrar 48 hours before the date fixed in order to find out as to whether the matter would be taken up for hearing through video conference or through physical hearing.

6. The present matter was 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 Presiding Officer 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 09.12.2020 msb

TARUN AGARWAL Digitally signed by TARUN AGARWAL DN: c=IN, o=PUBLIC WORKS DEPARTMENT UTTAR PRADESH, postalCode=221505, st=Uttar Pradesh, 2.5.4.20=30fcf68685192bbc53e6ff1608a83fb3881de7 ac2ab7954d509c85ed6e0f7c41, serialNumber=095f8b286bb0b1cd07ff676611f4f5e79 99727d404aa38ca422f9d3529bdb8a3, cn=TARUN AGARWAL Date: 2020.12.09 20:34:19 +05'30'