9911796707
TMI Blog2013 (10) TMI 1598X X X X Extracts X X X X X X X X Extracts X X X X ..... Appearing Parties. ORDER 1. The parties to Writ Petition (Lodg) No.2340 of 2013 and the respondents in Writ Petition No.2534 of 2013 do not insist on reasons for this order. The petitioner in Writ Petition No.2534 of 2013, requested for reasons as we have not granted a blanket stay to any further processing of the transactions relating to the e-series contracts. We have, however, by this order permitted the first payment or physical delivery as the case may be, to the e-series customers only after 25th October, 2013. The matter has been adjourned to 21st October, 2013. In the meantime, we have permitted only their requests for financial settlement or physical delivery to be processed. This would be essential to safeguard against any ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of any independent investigation by respondent Nos.1, 2 and/or 3 in this regard. In the circumstances, we are not inclined to accept his suggestion that there ought to be no orders whatsoever in respect of the e-series contracts. 5. At this stage, the following ad-interim order is passed :-- (i) Subject to any orders by the respondent No.2 - Union of India, respondent No.1 - Forward Markets Commission shall monitor the transactions of respondent Nos. 4,5 and 6, including with respect to the paired contracts and the e-series contracts. (ii) The officers of the Forwards Market Commission (FMC) and the Economic Offences Wing (EOW) shall be entitled at all times to inspect all the records of respondent Nos.4, 5 and 6, including the KYC (K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ursuant to requests for financial settlement and the physical delivery in respect of the e-series commodities pursuant to the requests for the same shall not commence before 25th October, 2013. Even thereafter, respondent No.4 shall not make any payment pursuant to requests for financial settlement for a period of 7 days after the communication of such requests in writing to the FMC and the EOW. Respondent No.4 shall forward requests for physical delivery and the same may be processed by the custodian/vaulting agents. However, physical deliveries shall not be effected to the client for a period of 7 days after the communication of the request for the same to the FMC and the EOW. The petitioners shall be entitled to raise objections with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arities of the functioning of respondent No.4 and the steps they intend taking hereafter with respect to the same. The affidavit shall also state whether and if so what action has been taken by them so far against respondent Nos.4, 5 and 6 and their Directors, officers, servants, agents, associates and any other concerned person or persons. The affidavit of respondent No.4 shall, inter alia, furnish particulars of the payments made out of the securities guarantee fund (SGF) from 1st April, 2013, onwards. 7. Respondent No.3 in Writ Petition No.2534 of 2013 shall furnish to the petitioners, inspection of the bullion register relating to the said e-series unless the FMC or the EOW objects to the same in writing. 8. The statement made by Dr. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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