Noted Infotech P. Ltd vs Securities & Exchange Bd. Of India

The Supreme Court held that delays in filing appeals before the Securities Appellate Tribunal can be condoned under sufficient cause, provided the appellant pays a specified cost to the respondent. In cases C.A. No. 141 of 2007, C.A. No. 4975 of 2006, and C.A. No. 4687 of 2006, delays of 720 days, 650 days, and 870 days respectively were condoned, contingent upon the payment of Rs. 1,00,000/- and Rs. 1,25,000/- as costs. The court affirmed that failure to comply would result in dismissal of the appeal and rejection of the application for condonation of delay.