Dhanvat Rai Shah Huf vs Sebi
- CitationAppeal No. 642 of 2022
Ratio decidendi
The rule this decision rests on
The appellant's appeal is disposed of on the basis that the case falls squarely within the SEBI Settlement Scheme 2022, issued under Regulation 26 of the SEBI (Settlement Proceedings) Regulations, 2018; the appellant is therefore directed to file a settlement application before the concerned authority within two weeks, and that authority is to treat it as an application filed in a pending proceeding and dispose of it in accordance with the Scheme.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision: 06.01.2023
Misc. Application No. 1675 of 2022 And Misc. Application No. 1676 of 2022 And Appeal No. 642 of 2022
Dhanvat Rai Shah HUF 361 A, Elgin Court, 5th Floor, Kolkata, West Bengal- 700 020 ...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. Ram Awatar Dhoot, Authorised Representative for the Appellant.
Mr. Abhiraj Arora, Advocate with Mr. Shourya Tanay 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. The Application
is allowed.
2
2. We find that the appellant's case is squarely covered by
the SEBI Settlement Scheme 2022 which has been issued in
terms of the 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 SEBI Settlement Scheme
2022 as an application filed in a pending proceeding and pass
appropriate orders. The appeal is disposed of. Misc.
Application is also disposed of accordingly.
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 06.01.2023 PRERNA by PRERNA Digitally signed
PK MANISH MANISH KHARE Date: 2023.01.11 KHARE 14:18:48 +05'30'
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