In the matter of Ashika Stock Broking Limited

BEFORE   THE    SECURITIES    APPELLATE    TRIBUNALMUMBAI

Appeal No. 207 of 2013

Date of Decision : 03.04.2014

Ashika StockBroking Limited 1008,10th Floor, RahejaCentre, 214, Nariman Point,

Mumbai – 400 021.

Head Office:

226/1 AJC Bose Road,Trinity,

7th Floor,Kolkata – 700 020.                                                          …Appellant

Versus

1.        Bombay Stock Exchange Ltd.

Floor 25,P.J. Tower, Dalal Street, Mumbai – 400 001.

2.       Indian Clearing Corporation Limited

P.J. Tower,Dalal Street,

Mumbai – 400 001.                                                                 …Respondents

Mr. Kumar Desai, Advocate with Mr. Vinay Chauhan and Mr. K.C. Jacob, Advocates for the Appellant.

Mr.  P.N.  Modi,  Senior  Advocate  with  Mr.  Mahernosh  Humranwala, Ms. Kirtida Chandarana andMs. Smiti Tewari,Advocates for Respondents.

CORAM : JusticeJ.P. Devadhar, Presiding Officer Jog Singh, Member

Per : J.P. Devadhar(Oral)

1.                  This appeal is filed to challengeorder passed by Respondents on October 25, 2013. Since appellant has made a grievance that the impugned order is violative of the principles of natural justice,learned senior counsel for respondents states that the impugned order may be remandedfor passing fresh orderin accordance withlaw.

2.                  Accordingly, impugned order dated October 25, 2013 is quashed and set aside and the matteris restored to the file of respondents. Respondents are directedto pass fresh order on merits and in accordance with law aftergiving personal hearing to the appellantas early as possible and preferably withinfour months from today.

 3.                  Appeal is disposedof in above terms with no order as to costs.

Sd/-

Justice J.P.Devadhar Presiding Officer

Sd/- Jog Singh Member

03.04.2014

Prepared and comparedby:

msb

Source: www.sebi.gov.in