Manvijay Development Company Limited v. Bse Limited And ANR

$~30 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 2887/2016 MANVIJAY DEVELOPMENT COMPANY LIMITED ..... Petitioner Through:

Mr.

Manish Jain, Mr.

Sougata Ganguly and Mr. Rukban Tyagi, Advs.

Versus

BSE LIMITED AND ANR ..... Respondents Through:

Mr. Aditya Shankar and Mr. Udit Grover, Advs. for R-1.

Ms. Anubha Bhardwaj and Mr. Dev P. Bhardwaj, Advs. for R-2/UOI.

CORAM:

HON'BLE MR. JUSTICE RAJIV SAHAI ENDLAW

O R D E R

% 01.04.2016 CM No.12098/2016 (for exemption) 1.

Allowed, subject to just exceptions.

2.

The application is disposed of.

W.P.(C) 2887/2016 & CM No.12097/2016 (for stay) 3.

The petition seeks revocation of the suspension effected by the respondent No.1 BSE Limited of trading in the securities of the petitioner and also impugns the notices dated 18th December, 2015 and 21st December, 2015 of the respondent No.1 BSE Limited.

4.

This Court recently has considered a large number of such petitions and which have been disposed of with directions to the respondent No.1 W.P.(C) 2887/2016

BSE Limited to grant an opportunity of hearing to the petitioners therein and to pass a reasoned order.

5.

The counsel for the respondent No.1 BSE Limited appearing on advance notice states that he has instructions that the petitioner has submitted all the requisite documents and the matter is under consideration of the appropriate authority of the respondent No.1 BSE Limited. 6.

The petitioner desires an opportunity of hearing. 7.

The petitioner to appear before the concerned official of the respondent No.1 BSE Limited on 12th April, 2016 at 1100 hours and the respondent No.1 to by 26th April, 2016, if satisfied, recall the order of suspension in trading in securities of the petitioner and if not satisfied to pass a reasoned order thereon and furnish a copy thereof to the petitioner. 8.

The petitioner, if remains aggrieved shall have remedies in law. 9.

It is clarified that if during the hearing any further documents are required to be produced by the petitioner, opportunity thereof shall be given. 10.

The petition is disposed of.

No costs.

Copy of this order be given dasti under the signatures of the Court Master.

RAJIV SAHAI ENDLAW, J.

APRIL 01, 2016 bs..

W.P.(C) 2887/2016