Deejay Stocks Pvt. Ltd. vs Sebi
- CitationAppeal No. 992 of 2022
Ratio decidendi
The rule this decision rests on
The appellant's case, having been found to fall within the terms of the SEBI Settlement Scheme 2022 framed under Regulation 26 of the SEBI (Settlement Proceedings) Regulations, 2018, is disposed of by directing the appellant to apply for settlement before the competent authority within two weeks, and by directing that such application be accepted and treated as one filed in a pending proceeding, the appeal being thereby closed without any determination on its merits.
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: 08.12.2022 Misc. Application No. 1580 of 2022 And Appeal No. 992 of 2022 Deejay Stocks Pvt. Ltd. 401, New Shangrilla Apartment, 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 Mr. Prakash Shah, Advocate with CA Kushal Shah i/b Prakash Shah and 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 2 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. 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 HARISH HARISH NAIR 08.12.2022 NAIR Date: 2022.12.12 16:40:07 +05'30' PK
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