Central Depository Services (India) Limited v. Daksha Narendra Bhavsar

7.IA.2677.2024.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION NO.2677 OF 2024 IN COMMERCIAL ARBITRATION PETITION NO.311 OF 2014 Central Depository Services (India) Limited ...Applicant

Versus

Daksha Narendra Bhavsar & Anr.

...Respondents

Mr Prathamesh Kamat a/w. Sanaya Contractor & Rahil Shah i/b. Veritas Legal, Advocate for Applicant.

Mr. Vishal Kanade, Harsh Moorjani, Priyanka Chaddha, Abhay Dhadiwal & Vidhi Karia i/b. Jayakar & Partners, Advocate for Respondents.

CORAM: SOMASEKHAR SUNDARESAN, J.

DATE : JANUARY 13, 2025 P.C :

1.

Learned Counsel for the parties have agreed to submit a short Note on Submissions with specific regard to the relevance of a recent ruling by the Learned Securities Appellate Tribunal on the issue of shares tendered by clients to stock brokers, who in turn tender them to the Stock Exchange and the liability, if any, of depositories when a default takes place.

2.

To consider the note, stand over to January 16, 2025. Digitally signed by AARTI GAJANAN PALKAR Date:

2025.01.14 15:51:20 +0530 AARTI GAJANAN PALKAR JANUARY 13, 2025 Aarti Palkar

7.IA.2677.2024.doc 3.

All actions required to be taken pursuant to this order shall be taken upon receipt of a downloaded copy as available on this Court's website.

[ SOMASEKHAR SUNDARESAN, J.] JANUARY 13, 2025 Aarti Palkar