Case Note & Summary
The Supreme Court of India heard a civil appeal arising from an order of the Securities Appellate Tribunal, Mumbai, dated 24-09-2019 in Appeal No.37/2019. The appellant, CAB Securities Limited, challenged the Tribunal's order, and the respondent was the National Stock Exchange of India Limited. The Court considered an application for condonation of delay in filing the appeal and a stay application. After hearing the counsel for the petitioner, the Court condoned the delay but found no ground to interfere with the impugned order of the Tribunal. Consequently, the appeal was dismissed, and all pending applications were disposed of. The judgment was delivered by a bench comprising Justice Arun Mishra and Justice M.R. Shah on February 17, 2020.
Headnote
A) Securities Law - Appeal against Tribunal Order - Dismissal - The Supreme Court found no ground to interfere with the order passed by the Securities Appellate Tribunal, Mumbai, and dismissed the appeal filed by CAB Securities Limited against the National Stock Exchange of India Limited. (Para 1)
Issue of Consideration
Whether the impugned order of the Securities Appellate Tribunal warrants interference by the Supreme Court.
Final Decision
Delay condoned. Appeal dismissed. Pending applications disposed of.
Law Points
- Delay condonation
- No interference with Tribunal order
- Dismissal of appeal
