Chhaya Deepak Thakker vs Sebi
- CitationAppeal No. 701 of 2022
Ratio decidendi
The rule this decision rests on
The controversy in these appeals is governed by the Tribunal's earlier decision in Dukes Products (India) Limited v. Securities and Exchange Board of India (Appeal No. 431 of 2020 and connected appeals), and the present appeals are disposed of by applying that decision; the reasoning on the merits is not restated in this order. Appeals against the WTM's order which the Tribunal holds to be squarely covered by that earlier decision are dismissed without costs, and appeals against the Adjudicating Officer's order on the same controversy are allowed with the impugned order quashed in so far as it relates to those appellants, while the appeal against the Adjudicating Officer's order in which that result does not follow is dismissed without costs.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Order Reserved on : 19.10.2022 25.11.2022
Date of Decision : 03.01.2023
Appeal No. 701 of 2022 Mahendra Dhanjibhai Amin B-206, Shankardhan Plaza, Mehul Cinema, J.N. Road, Mulund (W), Mumbai - 400 080. ...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. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b Prakash Shah and Associates for the Appellant.
Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 702 of 2022 Dalmia Pramod Kumar HUF Karta : Pramod Kumar Dalmia No. 4 8 760/764 Gowliguda Chaman, Hyderabad, Telangana- 500 012. ...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 2
Mr. Vikas Bengani, Advocate for the Appellant.
Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 703 of 2022
Karnesh Pannalal Shyamsukha 1302, Samarpan Royal, Opp. Western Express Highway, Near Rivali Park, Borivali (East), Mumbai - 400 066. ...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. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 704 of 2022 Ruchit Hiralal Jain 1501, Rushab Tower, Next to Telephone Exchange, Mazgaon, Mumbai - 400 010. ...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 3
Mr. Vikas Bengani, Advocate for the Appellant.
Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 705 of 2022
Madhu Karnesh Shyamsukha 1302, Samarpan Royal, Opp. Western Express Highway, Near Rivali Park, Borivali (East), Mumbai - 400 066. ...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. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 706 of 2022
Nitin Kagzi 21/42, Usha Kiran Building, 15, Carmichel Road, Mumbai - 400 026. ...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 4
Mr. Vikas Bengani, Advocate for the Appellant.
Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 707 of 2022
Prachi Kagzi 21/42, Usha Kiran Building, 15, Carmichel Road, Mumbai - 400 026. ...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. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 708 of 2022
Champalal Mohanlal Jain 1002 Ganesh Darshan, 10th Floor, L.T. Road, Borivali (West), Mumbai - 400 092. ...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 5
Mr. Vikas Bengani, Advocate for the Appellant.
Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 944 of 2022
Chandrika Dharmendra Sanghvi Flat No. 801, 8th Floor, Palai Ratan Building, Shankar Matham Lane, Matunga CR, Mumbai - 400 019. ...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. Rinku Valanju, Advocate i/b R V Legal for the Appellant.
Mr. Akash Rebello, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 945 of 2022 Chandrika Dharmendra Sanghvi Flat No. 1004, Plot No. 420, Beleza Building, 10th Floor, Bhavani Shankar Road Opposite Bhavani Plaza, Dadar West, Mumbai - 400 028. ...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 6
Ms. Rinku Valanju, Advocate i/b R V Legal for the Appellant.
Mr. Akash Rebello, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 946 of 2022
Geeta Bharat Sanghvi 43/46, Daya Niwas Building, B Wing, 4th Floor, S K Bole Road, Dadar West, Mumbai - 400 028. ...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. Rinku Valanju, Advocate i/b R V Legal for the Appellant.
Mr. Akash Rebello, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 947 of 2022 Geeta Bharat Sanghvi 43/46, Daya Niwas Building, B Wing, 4th Floor, S K Bole Road, Dadar West, Mumbai - 400 028. ...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 7
Ms. Rinku Valanju, Advocate i/b R V Legal for the Appellant.
Mr. Akash Rebello, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
WITH Appeal No. 948 of 2022
Chhaya Deepak Thakker Flat No. 801, 8th Floor, Palai Ratan Building, Shankar Matham Lane, Matunga CR, Mumbai - 400 019. ...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. Rushin Kapadia, Advocate with Ms. Akshita Sharma, Advocate i/b R V Legal for the Appellant.
Mr. Akash Rebello, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
AND Appeal No. 949 of 2022 Chhaya Deepak Thakker Flat No. 801, 8th Floor, Palai Ratan Building, Shankar Matham Lane, Matunga CR, Mumbai - 400 019. ...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 8
Mr. Rushin Kapadia, Advocate with Ms. Akshita Sharma, Advocate i/b R V Legal for the Appellant.
Mr. Akash Rebello, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners for the Respondent.
CORAM : Justice Tarun Agarwala, Presiding Officer Ms. Meera Swarup, Technical Member
Per : Justice Tarun Agarwala, Presiding Officer
1.
The controversy involved in the present appeals is
squarely covered by a decision of this Tribunal dated
January 3, 2023 in the matter of Dukes Products (India)
Limited vs Securities and Exchange Board of India in Appeal
no. 431 of 2020 and other connected appeals.
2. In view of the aforesaid, Appeals no. 945 of 2022
(Chandrika Dharmendra Sanghvi), 946 of 2022 (Geeta Bharat
Sanghvi) and 949 of 2022 (Chhaya Deepak Thakker) filed
against the order of the WTM are dismissed with no order as to
costs.
3. The Appeals no. 702 of 2022 (Dalmia Pramod Kumar
HUF), 703 of 2022 (Karnesh Pannalal Shyamsukha), 704 of
2022 (Ruchit Hiralal Jain), 705 of 2022 (Madhu Karnesh
Shyamsukha), 706 of 2022 (Nitin Kagzi), 707 of 2022 (Prachi
Kagzi), 708 of 2022 (Champalal Mohanlal Jain), 944 of 2022 9
(Chandrika Dharmendra Sanghvi), 947 of 2022 (Geeta Bharat
Sanghvi) and 948 of 2022 (Chhaya Deepak Thakker) filed
against the order of the AO are allowed. The order of the AO
insofar as it relates to the appellants are quashed. Appeal no.
701 of 2022 (Mahendra Dhanjibhai Amin) is dismissed with no
order as to costs.
4. 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 MADHUK Digitally signed by MADHUKAR 03.01.2023 AR SHAMRAO
msb SHAMRAO BHALBAR Date: 2023.01.06 BHALBAR 17:07:14 +05'30'
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