Bineet Agarwal vs Sebi
- CitationAppeal No. 116 of 2023
Ratio decidendi
The rule this decision rests on
A party who has paid the penalty imposed by an impugned order without protest, and whose payment has thereby brought the matter to a close, is not entitled to the benefit of a settlement scheme and cannot pursue an appeal to obtain such benefit; the appeal is accordingly liable to be dismissed.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 30.01.2023
Misc. Application No. 108 of 2023 And Misc. Application No. 109 of 2023 And Appeal No. 116 of 2023
Bineet Agarwal 27, Maharshi Devendra Road, Kolkata - 700001. ..... Appellant
Versus
Securities & Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. ...... Respondent
Mr. Rajiv Kumar Choudhary, Advocate for the Appellant.
Mr. Abhiraj Arora, Advocate with Mr. Shourya Tanay, Ms. Misbah Dada, 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.
We have perused the record. We find that the impugned order
was passed on January 28, 2022 and the penalty amount was paid 2
without protest on March 1, 2022. The present appeal has been filed
in order to get benefit under the Settlement Scheme.
2. Quite apart from this fact, we also find the appellant is not
entitled for the benefit of the Settlement Scheme as he has already
paid the amount under protest. The matter has reached a quietous.
Consequently, the appeal fails and is dismissed.
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 PRAMILA Digitally signed by Technical Member PRAMILA TANAJI 30.01.2023 TANAJI MISAL Date: 2023.01.31 PTM MISAL 16:37:03 +05'30'
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