Alpha Commodity Private Limited vs Sebi
- CitationAppeal No. 423 of 2022
Ratio decidendi
The rule this decision rests on
The controversy is governed by the Tribunal's earlier decisions in Geofin Comtrade Limited vs. SEBI and Joindre Commodities Ltd. vs. SEBI, and the impugned order is therefore set aside and the matter remitted to the Whole Time Member of SEBI to be decided afresh in accordance with the directions given in those decisions.
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: 29.07.2022 Misc. Application No. 541 of 2022 And Appeal No. 423 of 2022 Alpha Commodity Private Limited 112A, Embassy Centre, Nariman Point, Mumbai- 400 021 ...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 Ms. Aparna Wagle, Advocate with Ms. Sonakshi Sahay, Advocate i/b. Alliance Law for the Appellant. Mr. Suraj Chaudhary, Advocate with Mr. Mihir Mody, Mr. Arnav Misra and Mr. Mayur Jaisingh, Advocates i/b. K Ashar & Co. for the Respondent. CORAM: Justice Tarun Agarwala, Presiding Officer Justice M. T. Joshi, Judicial Member Ms. Meera Swarup, Technical Member Per: Justice Tarun Agarwala, Presiding Officer (Oral) 1. The controversy involved in the present appeal is squarely covered by a decision of this Tribunal in Geofin Comtrade Limited vs. SEBI (Appeal No. 214 of 2019 decided on June 09, 2022) and other connected companion appeals as well as in 2 Joindre Commodities Ltd. vs. SEBI (Appeal No. 672 of 2021 decided on July 20, 2022) and other connected companion appeals. 2. In view of the aforesaid, the impugned order is set aside. The appeal is allowed. The matter is remitted to the Whole Time Member ("WTM") of SEBI to decide the matter afresh in terms of the directions given in Geofin Comtrade Limited vs. SEBI (Appeal No. 214 of 2019 decided on June 09, 2022) and other connected companion appeals as well as in Joindre Commodities Ltd. vs. SEBI (Appeal No. 672 of 2021 decided on July 20, 2022) and other connected companion appeals. The misc. application is disposed of accordingly. 3. 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 this order is also available from the Registry on payment of usual charges. Justice Tarun Agarwala Presiding Officer Justice M. T. Joshi Judicial Member Ms. Meera Swarup RAJALA Digitally signed Technical Member 29.07.2022 by KSHMI NAIR RAJALAKSHMI H PK Date: 2022.08.03 H NAIR 15:50:41 +05'30'
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