application for condonation of delay in filing the
appeal before the Securities Appellate Tribunal and
also after considering the impugned judgment
rejecting the application for condonation of delay and
the nature of the order passed in respect of which the
appeal has been proposed to be filed before the
Securities Appellate Tribunal, we are of the view that
the delay of 720 days in filing the appeal before the
Securities Appellate Tribunal can be condoned and
sufficient cause for condoning the delay in filing the
appeal can be held if the appellant is directed to pay
or deposit a sum of Rs.1,00,000/- as cost to the
respondent. Accordingly, we dispose of this appeal in
the following manner :
after going through the averments made in the application
for condonation of delay in filing the appeal before the
Securities Appellate Tribunal and also after considering the
impugned judgment rejecting the application for
condonation of delay and the nature of the order passed in
respect of which the appeal has been proposed to be filed
before the Securities Appellate Tribunal, we are of the view
that the delay of 650 days in filing the appeal before the
Securities Appellate Tribunal can be condoned and
sufficient cause for condoning the delay in filing the appeal
can be held if the appellant is directed to pay or deposit a
sum of Rs.1,00,000/- as cost to the respondent.
Accordingly, we dispose of this appeal in the following
manner :
[Tarun Chatterjee]
New Delhi; ….….………………..J. August 04, 2008. [Aftab Alam]