1. The appellant has been expelled as a member of the Exchange under Rules 1 and 2 of Chapter IV of NSE Rules. Having heard the learned counsel for the appellant we are of the opinion that the impugned order cannot be stayed as an interim measure, the matter has to be decided finally.
2. We accordingly direct the respondent to file a reply on or before August 18, 2023. Rejoinder to be filed within two weeks thereafter. The matter would be listed for admission and for final disposal on September 4, 2023. The urgency application is disposed of. The exemption application is allowed.
3. This order will be digitally signed by the Private Secretary on behalf of the bench and all concerned parties are directed to act on the digitally signed copy of this order. Certified copy of this order is also available from the Registry on payment of usual charges.
