When contacted, Parekh further clarified that in the light of Tuesday's hearing he will not be allowed to either attend the governing board meetings or vote. He will, however, be allowed to hold the president's office up to March 31 till 5 pm instead of 10 am as stated by the high court at its first hearing on March 24.

"When this petition was taken up, Anil Divan, who appeared on my behalf, voluntarily made a statement that I shall not offer myself as a candidate for the post of president and not attend any board meeting," said Parekh.Parekh moved the court for thesecond time on Tuesday. This time around, his plea was that as the appellate authority would hear the matter only on April 5 after his term as president came to an end, the court should stay the Sebi order.