(S. Abdul Nazeer and Sanjiv Khanna, JJ.)
Item No. 1:
Petition(s) for Special Leave to Appeal (C) No(s). 14288-14291/2020, decided on December 9, 2020
Franklin Templeton Trustee Services Pvt. Ltd. and Another ______________________________________________ Petitioner(s);
v.
Amruta Garg (Formerly Amruta Narendra Nikam) and Others ______________________________________________ Respondent(s).
(For Admission and I.R. and IA No. 122400/2020-Exemption From Filing Affidavit and IA No. 122399/2020-Permission To File Lengthy List of Dates and IA No. 122398/2020-Permission To File Additional Documents/Facts/Annexures)
With
Item No. 15:
Petition(s) for Special Leave to Appeal (C) No(s). 14734/2020
(For Admission and I.R. and IA No. 125552/2020-Exemption From Filing C/C of the Impugned Judgment and IA No. 125551/2020-Exemption From Filing Affidavit and IA No. 127452/2020-Appropriate Orders/Directions) Item No. 16: Special Leave Petition (Civil) Diary No(s). 26325/2020 (For Admission and I.R. and IA No. 126736/2020-Exemption From Filing C/C of the Impugned Judgment and IA No. 126737/2020-Exemption From Filing Affidavit and IA No. 126735/2020-Permission To File Petition (SLP/TP/WP/..) Item No. 17: Petition(s) for Special Leave to Appeal (C) No(s). 14929/2020 (For Admission and I.R. and IA No. 127681/2020-Permission To File Synopsis and List of Dates and IA No. 127716/2020-Permission To File Additional Documents/Facts/Annexures and IA No. 127890/2020-Permission To File Additional Documents/Facts/Annexures) Item No. 18: Special Leave Petition (Civil) Diary No(s). 26728/2020 (For Admission and I.R. and IA No. 128094/2020-Exemption From Filing C/C of the Impugned Judgment and IA No. 128090/2020-Exemption From Filing Affidavit and IA No. 128085/2020-Permission To File Petition (SLP/TP/WP/..)
Petition(s) for Special Leave to Appeal (C) No(s). 14288-14291/2020; WP Nos. 8644/2020, 8748/2020, 8545/2020; WA No. 399/2020; IA No. 122400/2020; IA No. 122399/2020; IA No. 122398/2020; Petition(s) for Special Leave to Appeal (C) No(s). 14734/2020; IA No. 125552/2020; IA No. 125551/2020; IA No. 127452/2020; Special Leave Petition (Civil) Diary No(s). 26325/2020; IA No. 126736/2020; IA No. 126737/2020; IA No. 126735/2020; Petition(s) for Special Leave to Appeal (C) No(s). 14929/2020; IA No. 127681/2020; IA No. 127716/2020; IA No. 127890/2020; Special Leave Petition (Civil) Diary No(s). 26728/2020; IA No. 128094/2020; IA No. 128090/2020; and IA No. 128085/2020
The Order of the court was delivered by
Order
1. It is brought to our notice that order dated 3-12-20201 does not specifically record direction for issue of notice in S.L.P.(Civil) Nos. 14288-14291/2020.
2. We clarify that order dated 3-12-20201 would be read as order issuing notice in S.L.P. (Civil) Nos. 14288-14291/2020.
3. Mr. Tushar Mehta, learned Solicitor General and Mr. Arvind Datar, learned senior counsel appearing on behalf of the Securities and Exchange Board of India (“SEBI”) submit that SEBI has filed a special leave petition which is registered as S.L.P.(Civil) No. 15008 of 2020. This special leave petition is taken on Board.
4. Permission to file special leave petitions is granted.
5. We also direct issue of notice in S.L.P. (Civil) Nos. 14734/2020, 14929/2020 and 15008/2020 and S.L.P. (Civil) Diary Nos. 26325/2020 and 26728/2020.
6. Issue notice on I.A. No. 127452/2020 in S.L.P. (Civil) No. 14734/2020.
7. Counter affidavit/reply be filed by the non-applicants/respondents within seven days.
8. Rejoinder affidavit, if any, be filed within seven days thereafter.
9. Service upon the unrepresented respondents is permitted through all modes including e-mails.
10. An apprehension is expressed on behalf of the SEBI that the last order recording that without prejudice to the rights and contentions of all parties, the trustees are permitted to call meeting of unit holders to seek their consent/approval could be misread and treated as a precedent. This it is stated would create difficulties.
11. We clarify that order dated 3-12-20201 has been passed in the peculiar facts and circumstances of the case and to expedite the hearing and decision in the present special leave petitions. The same should not be treated as a precedent in any other matter.
12. SEBI shall appoint an observer regarding the e-voting of unit holders which is scheduled between 26th December to 29th December, 2020. The result of the e-voting would not be announced and would be produced before us in a sealed cover along with the report of the observer appointed by the SEBI. SEBI would also file a copy of the final Forensic Audit Report before this Court in a sealed cover.
13. It is made clear that the trustees are undertaking the exercise of e-voting and SEBI in terms of our directions is appointing an observer.
14. S.L.P.(Civil) Nos. 14288-14291/2020 would be treated as a lead case. Learned counsel for the parties will interact and thereupon the petitioner would file a common convenience compilation.
15. Interim order passed on 3-12-20201 staying redemption payment to the unit holders would continue till the next date of hearing.
16. List these petitions for hearing in the 3rd week of January, 2021.
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1 Franklin Templeton Trustees Services (P) Ltd. v. Amruta Garg, SLP(C) No. 14288 of 2020, order dated 3-12-2020 (SC)
