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of <h1>Interest on investor refund amounts-whether payable and how computed-clarification allowed before SAT; appeals dismissed with liberty.</h1> The dominant issue was whether clarification was warranted regarding the interest payable on refund amounts due to investors. The SC held that the SAT had ... Interest payment - Seeking correction/clarification - Claim for refund of the monies received from the investors - HELD THAT:- We find that the Securities Appellate Tribunal at Mumbai [“SAT”], in its judgment and order [2025 (11) TMI 532 - THE SECURITIES APPELLATE TRIBUNAL, MUMBAI (LB)], did not take note of certain aspects in relation to the interest payable by Gaekwad Plantations Ltd., the appellant herein. We grant liberty to the appellant to approach the SAT for seeking correction/clarification in that regard. Appeals are, accordingly, dismissed. Issues: (i) Whether interference with the Securities Appellate Tribunal's judgment and order dated 01.09.2025 is warranted; (ii) Whether the appellant should be granted liberty to approach the SAT for correction/clarification regarding interest payable.Issue (i): Whether interference with the SAT's judgment and order is warranted.Analysis: The appellate review examined whether any aspect of the SAT's decision required correction or substantive interference. The judgment indicates that, apart from a specific matter concerning interest payable which the SAT did not take note of, no other reason to disturb the SAT's conclusions was identified. The order also records condonation of delay as a preliminary procedural step.Conclusion: Interference is not warranted; the impugned SAT judgment/order is left undisturbed.Issue (ii): Whether the appellant should be granted liberty to approach the SAT for correction/clarification regarding interest payable.Analysis: The decision recognises an omission in the SAT's treatment of interest payable by the appellant and provides a procedural remedy by permitting the appellant to seek correction or clarification before the SAT rather than resolving that technical aspect on appeal.Conclusion: Liberty granted to the appellant to approach the SAT for correction/clarification on interest-related aspects.Final Conclusion: The Court declined to disturb the SAT's decision on the merits while allowing a limited procedural remedypermission for the appellant to seek correction/clarification from the SAT concerning interest payable.Ratio Decidendi: Where a superior court finds no substantive ground to interfere with a tribunal's order but identifies a specific omission of a technical nature, the appropriate course is to refuse interference while granting liberty to the affected party to seek correction or clarification from the tribunal itself.
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