Dilwar Hossain vs Sebi
- CitationAppeal No. 592 of 2019
Ratio decidendi
The rule this decision rests on
The limitation for an appeal against a final order of the Whole Time Member runs from the date of that final order, not from a later communication by a subordinate department that merely confirms the order's finality; a later communication does not extend or restart the period for challenging the original order. Where an appellant seeking condonation of delay offers no explanation for failing to appeal the principal order within time, a short delay computed from a subsequent communication cannot be condoned, and the application for condonation is to be rejected.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 21.02.2020
Misc. Application No. 652 of 2019 And Appeal No. 592 of 2019
Dilwar Hossain ..... Appellant son of Mohammed Badiul Alam Village - Manju Katlamari (89), Para - Beledanga, 7 - Katlamari, Rani Nagar, District - Murshidabad, West Bengal - 742308.
Versus
1.
Securities & Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051.
2. The Whole Time Member, Securities & Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051.
3. The Manager, Enforcement Division - 1, DRA-IV, Securities & Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. ... Respondents
Mr. Fauzan Shaikh, Advocate for the Appellant. Mr. Anubhav Ghosh, Advocate with Ms. Rashi Dalmia, Advocate i/b The Law Point for the Respondents. 2
CORAM : Justice Tarun Agarwala, Presiding Officer Dr. C. K. G. Nair, Member Justice M. T. Joshi, Judicial Member
Per : Justice Tarun Agarwala, Presiding Officer (Oral)
1. The appellant has filed the present appeal praying for setting
aside the final order of the Whole Time Member (hereinafter referred
to as 'WTM') of Securities and Exchange Board of India (hereinafter
referred to as 'SEBI') dated October 21, 2015 as well as the order
dated January 21, 2019 passed by the Manager Enforcement
Department SEBI. The appeal was preferred on March 28, 2019.
Since there was a delay in filing the appeal, Misc. Application has
been filed for condoning the delay. In this application, it is
contended that there is a delay of only 21 days in filing the appeal
and this short delay may be condoned.
2. We find that the delay has been calculated from the date of the
letter / communication dated January 21, 2019 sent by the
Enforcement Department. We are of the opinion that since the final
order dated October 21, 2015 has been challenged, the limitation will
start from that date and not from 2019. No explanation has been
given as to why appeal could not be filed earlier against the final
order of the WTM dated October 21, 2015. In the absence of any 3
explanation, we are of the view that this inordinate delay in
challenging the final order which has not been annexed in the appeal
cannot be permitted.
3. The application for condonation of delay is thus patently
misconceived and the delay cannot be condoned. The Misc.
Application is rejected. In so far as the order dated January 21, 2019
is concerned, it is only a communication by the Enforcement
Department to the appellant indicating that the order of the WTM has
attained finality and, therefore, his name cannot be removed /
expunged from the said order. There is no error in the
communication sent by the Enforcement Department.
4. The appeal is accordingly dismissed with no order as to costs.
Sd/-
Justice Tarun Agarwala Presiding Officer
Sd/-
Dr. C. K. G. Nair Member
Sd/-
Justice M. T. Joshi Judicial Member 21.02.2020 Prepared & Compared by PTM
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