The Securities Appellate Tribunal has set aside an order passed by the securities market regulator SEBI against Eicher Motors last year regarding a case of duplication of the company’s shares.

SAT said that since SEBI did not hear the company’s defence and is willing to pass fresh orders, the current order — which was passed last October — has been set aside.

The case pertains to a complaint by Manoj Dharamdas Shah, who holds 100 shares of Eicher Motors. He claimed that the company illegally transferring his shares to Vijay Ratnakar Humbre, without the former’s knowledge or consent.

Shah only learnt of the transfer when he submitted his physical share documents to the Registrar and Transfer Agent to get them in the demat form instead.

SEBI had passed an order in October demanding that the company “immediately reinstate the disputed shares to the complainant in lieu of proper indemnity of the complainant and submit an order compliance report.”

“Since SEBI is agreeable to pass fresh order on merits after hearing the appellant, we set aside the impugned order dated October 27, 2016 and direct SEBI to pass fresh order on merits and in accordance with law,” the tribunal added.