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2015 (7) TMI 177 - SECURITIES APPELLATE TRIBUNAL MUMBAI

2015 (7) TMI 177 - SECURITIES APPELLATE TRIBUNAL MUMBAI - TMI - Annulment of trades - Violation of the norms laid down by SEBI / NSE - Held that:- It was submitted by NSE that the settlement proposal put up by the parties is not in contravention of any of the rules/regulations/bye laws of 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 i .....

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weeks from today. - Decided in favour of appellants. - Appeal No. 134 of 2015, Appeal No. 135 of 2015 - Dated:- 26-3-2015 - J.P. Devadhar and Jog Singh, JJ. For The Appellant : Mr. Darius Khambata, Senior Advocate with Mr. Pesi Modi, Senior Advocate, Mr. Somasekhar Sundaresan, Mr. Abhishek Venkatraman and Mr. Dhaval Kothari, Advocates i/b J. Sagar Associates, Zal Andhyarujina, Advocate with Mr. Ajai Achuthan, Advocate For The Respondent : Mr. E. P. Bharucha, Senior Advocate with Mr. Rashid Boatw .....

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pute in the present case, relates to annulment of trades that were executed on October 05, 2012 where in both parties to the trade were found to have violated the norms laid down by SEBI/NSE. On an application filed by M/s. Emkay Global Financial Services Limited ( Emkay for short) seeking annulment of trades, NSE by its order dated April 29, 2013 rejected the said application. Challenging the said order Emkay had filed Appeal No. 64 of 2013. While setting aside the said order and allowing the a .....

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