Case Note & Summary
The judgment involved multiple civil appeals filed by Noted Infotech P. Ltd. against the Securities & Exchange Board of India concerning the condonation of delays in filing appeals before the Securities Appellate Tribunal. The appeals were filed with delays of 720 days, 650 days, 870 days, 700 days, and 998 days respectively. The court considered the applications for condonation of delay and the reasons provided by the appellant. It found sufficient cause for condonation in each case, provided that the appellant paid specific costs to the respondent. The court ordered that the delays would be condoned if the appellant deposited Rs.1,00,000/- or Rs.1,25,000/- as costs within six weeks from the date of the order. The court emphasized that in default of payment, the appeals would stand dismissed and the impugned orders would be affirmed. The judgment underscored the importance of timely filing of appeals and the conditions under which delays could be excused, reflecting the court's discretion in managing procedural compliance.
Headnote
A) Civil Procedure - Condonation of Delay - Conditions for Condonation - Code of Civil Procedure, 1908 - The court condoned delays in multiple appeals subject to payment of costs to the respondent, establishing that sufficient cause for delay was present. The court directed specific amounts to be deposited as costs within a stipulated time frame, failing which the appeals would be dismissed (Paras 1-6).
Issue of Consideration
Whether the delays in filing appeals before the Securities Appellate Tribunal can be condoned and under what conditions.
Final Decision
The Supreme Court condoned the delays in filing the appeals subject to the payment of costs to the respondent, directing specific amounts to be deposited within six weeks. In default of payment, the appeals would stand dismissed and the impugned orders would be affirmed.
Law Points
- Condonation of delay
- Costs
- Securities Appellate Tribunal
- Civil Procedure
