2014 (1) TMI 1659

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....ocate For The Respondent : Mr. Shiraz Rustomjee, Senior Advocate with Mr. Mihir Mody, Advocate Per : Justice J. P. Devadhar (Oral) This appeal is basically filed to challenge SEBI's order dated October 29, 2013 whereby various bank accounts of appellants have been attached to recover amounts due under disgorgement order dated July 21, 2009. By disgorgement order dated July 21, 2009, appellants ....

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....2009. 4. By interim order dated December 6, 2013, this Tribunal lifted attachment on three bank accounts of the appellants subject to conditions set out therein. Both parties agree that during pendency of present appeal, appellants have paid Rs. 6 crore to the respondent. Question now to be considered is, whether appellants are liable to pay interest on disgorgement amount till Rs. 6 crore is pai....

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....onal hearing to the appellants. He further submits that the demand under communication dated January 16, 2014 being crystallized at Rs. 2,13,30,000/- together with interest from December 13, 2013 to January 5, 2014 on Rs. 4.05 crore, it would be just and proper to continue attachment on any one account to secure aforesaid amount and lift attachment on other bank accounts. Accordingly, counsel for ....