TMI Blog2015 (7) TMI 177X X X X Extracts X X X X X X X X Extracts X X X X ..... NSE. However, submitted that in the absence of any power, NSE could not entertain the settlement. since the settlement is bonafide and is not violative of any provisions of SEBI/NSE, without going into the question as to whether NSE had power to take settlement on record or not, in the peculiar facts of the present case, we, in exercise of powers conferred under rule 21 of the Securities Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with Mr. Rashid Boatwalla and Ms. Aditi Kamath, Advocates i/b Manilal Kher Ambalal Co. Mr. Shashank V. Choudhary, Advocate, Mr. Prakash K. Shah, Advocate Per: Justice J.P. Devadhar (Oral) 1. In these two appeals, the appellants have challenged the order passed by the Standing Committee of NSE on Annulment on December 04, 2014. By the said order the Committee has declined to take on reco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken up for fresh hearing, parties submitted settlement proposal which was rejected by NSE on ground that it has no power to take such settlement proposal. Hence the parties to the settlement proposal have filed the above appeals. 4. Before us, Mr. Bharucha Learned Senior Advocate appearing on behalf of NSE on instructions fairly stated that the settlement proposal put up by the parties is no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom today. 6. Both the appeals relating to annulment of trades are disposed of accordingly. This order will not come in the way of the Disciplinary Action Committee in continuing the proceeding pending before it against the parties to the trades in question herein. 7. Order of NSE dated December 04, 2014 impugned herein is modified accordingly to the extent setout hereinabove. 8. Both app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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