Anita Nyati vs Sebi
- CitationAppeal No. 971 of 2022
Ratio decidendi
The rule this decision rests on
The Tribunal held that where an appellant's case is squarely covered by a settlement scheme issued under the regulations governing settlement proceedings, the appeal may be disposed of by directing the appellant to apply for settlement under that scheme within a specified period, and the authority concerned must then accept the application as one filed in a pending proceeding and pass appropriate orders thereon.
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. 1529 of 2022 And Misc. Application No. 1530 of 2022 And Appeal No. 971 of 2022 Anita Nyati 48, Jaora Compound, Indore, Madhya Pradesh- 452 001 ...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. Ragini Singh, Advocate with Ms. Krishi Jain, Advocate i/b Ragini Singh & Associates 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) 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. Misc. Application, if any, is also disposed of. 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 this order is also available from the Registry on payment of usual charges. Justice Tarun Agarwala Presiding Officer Ms. Meera Swarup RAJALAKS Digitally signed HMI by RAJALAKSHMI Technical Member 29.11.2022 HARISH HARISH NAIR Date: 2022.12.05 PK NAIR 16:02:45 +05'30'
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