2019 (12) TMI 1143
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....e Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (hereinafter referred to as Delisting Regulations). 2. The facts leading to filing of the appeal is, that the trading in the equity shares of the Company was suspended with effect from 20th April, 2016. Since the trading of the shares was not revoked inspite of granting opportunity, the Respondent issued a show cause notice dated 1st June, 2018 to show cause as to why the equity shares of the Company should not be compulsorily delisted from the platform of the Exchange. Since no reply was received, the respondents fixed 26th June, 2018 for hearing on which date the Managing Director of the Company sought time to make a representation as his Advocate was....
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....et the suspension revoked. Since no reply was given to the show cause notice the request for adjournment was refused and, therefore, there was no violation of the principles of natural justice. In so far as the two orders being passed on the same date it was contended that an incorrect order dated 26th June, 2018 was sent by the covering letter dated 3rd July, 2018 and when the error was realized the correct order dated 26th June, 2018 was sent on 23rd July, 2018. 6. Having heard the learned counsel for the parties, we find that the show cause notice was issued on 1st June, 2018. The first date of hearing before the delisting committee was fixed on 26th June, 2018. The request for adjournment was only made for 26th June, 2018. The denial o....