The AT allowed the appeal, holding that the impugned ex parte...

The AT allowed the appeal, holding that the impugned ex parte order against the appellant for alleged unfair trade practices in illiquid stock options at BSE was passed without serving a Show Cause Notice (SCN). The tribunal found that the appellant was deprived of a fair opportunity to present their case, rendering the order violative of natural justice principles under Article 14 of the Constitution. Consequently, the impugned order was set aside, and the matter was remitted to the respondent for fresh adjudication after proper service of the SCN to the appellant.