Baijnath Goel Huf vs Sebi
- CitationAppeal No. 640 of 2022
Ratio decidendi
The rule this decision rests on
The appeal, being an illiquid stock option matter falling within the SEBI Settlement Scheme, 2022 issued under Regulation 26 of the SEBI (Settlement Proceedings) Regulations, 2018, and being squarely covered by the Tribunal's earlier decision in Dhanwantri Suppliers Pvt. Ltd. v. SEBI, is disposed of by directing the appellant to apply for settlement within two weeks, such application to be treated as filed in a pending proceeding and to be accepted by the authority in terms of the Settlement Scheme.
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 : 30.09.2022 Misc. Application No. 1009 of 2022 And Appeal No. 640 of 2022 Baijnath Goel HUF (Through its Karta Ashok Kumar Goel) 166A, Metropolitan, Kolkata - 700 105 (West Bengal) .....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. Vikas Bengani, Advocate for the Appellant. Mr. Gaurav Joshi, Senior Advocate with Mr. Abhiraj Arora and Shourya Tanay, 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. This appeal is categorized as an illiquid stock option matter and is covered by a settlement scheme issued in terms of Regulation 26 of Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018 which is called SEBI Settlement Scheme, 2022 and is also squarely covered 2 by our decision in Appeal no. 401 of 2022, Dhanwantri Suppliers Pvt. Ltd. vs SEBI decided on August 23, 2022. 2. 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 proposed SEBI Settlement Scheme 2022 as an application filed in a pending proceeding and pass appropriate orders. The appeal is disposed of. The miscellaneous application is also disposed of. 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 Ms. Meera Swarup Technical Member RAJALA Digitally by signed KSHMI NAIR RAJALAKSHMI H 30.09.2022 Date: 2022.10.04 H NAIR 16:48:58 +05'30' msb
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