Adarsh Pasari vs Sebi
- CitationAppeal No. 973 of 2022
Ratio decidendi
The rule this decision rests on
The appellant's case falls within the SEBI Settlement Scheme 2022, framed under Regulation 26 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, and the appeal is therefore disposed of on that basis, with liberty to the appellant to apply for settlement before the concerned authority within two weeks. Where a settlement application is filed in pursuance of such a disposal, the concerned authority is to treat it as an application filed in a pending proceeding and to accept it in terms of the Settlement Scheme 2022.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision: 29.11.2022 Misc. Application No. 1532 of 2022 And Misc. Application No. 1533 of 2022 And Misc. Application No. 1534 of 2022 And Appeal No. 973 of 2022 Adarsh Pasari FD 371, Sector-3 Near Paura Bhawan Salt Lake, Bidhan Nagar North 24 Parganas, Kolkata West Bengal- 700106 ...Appellant Versus Securities and Exchange Board of India, SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 051 ...Respondent Mr. Ram Awatar Dhoot, CA for the Appellant. Mr. Abhiraj Arora, Advocate with Mr. Shourya Tanay, Ms. Misbah Dada and Mr. Deepanshu Agarwal, Advocates i/b ELP for the Respondent. CORAM: Justice Tarun Agarwala, Presiding Officer Ms. Meera Swarup, Technical Member Per: Justice Tarun Agarwala, Presiding Officer (Oral) 2 1. There is a delay in the filing of the appeal. For the reasons stated in the application, the delay is condoned. Misc. Application is allowed. 2. We find that the appellant's case is squarely covered by the SEBI Settlement Scheme 2022 which has been issued in terms of Regulation 26 of Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018. 3. In view of the aforesaid, we dispose of the appeal directing the appellant to file an appropriate application for settlement before the authority concerned within two weeks from today. If the same is filed, the authority will accept the settlement application in terms of the SEBI Settlement Scheme 2022 as an application filed in a pending proceeding and pass appropriate orders. 4. The appeal is disposed of. All the misc. applications are disposed of accordingly. 5. 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 3 this order is also available from the Registry on payment of usual charges. Justice Tarun Agarwala Presiding Officer Ms. Meera Swarup RAJALAKS HMI Digitally signed by RAJALAKSHMI Technical Member 29.11.2022 HARISH HARISH NAIR Date: 2022.12.05 PK NAIR 16:01:42 +05'30'
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