1999 (1) TMI 412

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....y Patki for the Respondent. JUDGMENT The short question is whether the Bombay Stock Exchange, the 1st respondent herein, was justified in rejecting the Petitioner's application for readmission as member of Stock Exchange. On perusal of the report of the Defaulter's Committee ("the Committee"), it is obvious that al- though the membership of the Exchange is a personal permission from the Exch....

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....get information from VFSSL were frustrated for six months. In spite of that, he allowed VFSSL to carry on the business resulting in the liability of more than Rs. 4 crores. It is also pertinent to note that the Petitioner failed to produce the original books of account, receipts and vouchers when he was called upon to do so by the Committee. Thus, there was total non-compliance with the relevant r....