BEFORE THE SECURITIES APPELLATE TRIBUNAL

MUMBAI
Misc. Application No. 25 of 2015
And
Appeal No. 59 of 2015
Date of Decision : 16.02.2015
1. Rasoya Proteins Limited
Village Wanjiri,
Taluka Wani,
District Yavatmal 445305.
2. Anil Lonkar
Rasoya House, Plot No. 20/21,
Sita Nagar, Kheta Layout,
Near New Sneh Nagar, Wardha Road,
Nagpur, Mahrashtra 440015.
3. Prashant Duchakke
Rasoya House, Plot No. 20/21,
Sita Nagar, Kheta Layout,
Near New Sneh Nagar, Wardha Road,
Nagpur, Mahrashtra 440015.
4. Sameer Damle
Rasoya House, Plot No. 20/21,
Sita Nagar, Kheta Layout,
Near New Sneh Nagar, Wardha Road,
Nagpur, Mahrashtra 440015.
5. Ajay Singh
Khasra No. 120/2 (Old 69, 71/2, 67-70)
Infinity Court Yard, Home Unit No. 27,
Mouza, Kotewada, Behind Mihan,
Hingna To Wardha, Outer Ring Road,
Taluka Hingna Nagpur.

Appellants

Versus
Securities and Exchange Board of India
SEBI Bhavan, Plot No. C-4A, G Block,
Bandra Kurla Complex, Bandra (East),
Mumbai - 400 051.

Respondent

Mr. Janak Dwarkadas, Senior Advocate with Ms. Poonam Shrivastav,

Advocate for Appellants.
Mr. J.P. Sen Senior Advocate with Mr. Yogesh Chande and Mr. Nikhil
Rodrigues, Advocates i/b Economic Laws Practice for the Respondent.

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CORAM : Justice J.P. Devadhar, Presiding Officer

Per : J.P. Devadhar (Oral)

Misc. Application No. 25 of 2015:

By this Misc. Application appellants seek condonation of delay of 60
days in filing the appeal. For the reasons stated in the Misc. Application, the
delay is condoned. Accordingly, Misc. Application is disposed of with no
order as to costs.
Appeal No. 59 of 2014:

1.

Appellant is aggrieved by the ad-interim ex-parte order passed by the

whole time member of SEBI on September 24, 2014 whereby pending

investigation, appellants are restrained from accessing the securities market
and prohibited from buying, selling or dealing in securities in any manner
whatsoever, till further directions.
2.

Learned counsel for the respondent states that whole time member of

SEBI would hear the appellants on the question as to whether ad-interim

ex-parte order should be continued or not, within a period of two weeks
from today and pass appropriate order thereon within two weeks thereafter.

3.

In view of the above, counsel for appellants does not press the

appeal.
4.

Appeal is disposed of in above terms with no order as to costs.

Sd/Justice J.P. Devadhar

Presiding Officer
16.02.2015
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