Dr. S. K. Gupta vs Sebi
- CitationAppeal No. 687 of 2022
Ratio decidendi
The rule this decision rests on
The Tribunal restored the appeal on a finding that sufficient cause was shown for the delay, and allowed the appeal on the ground that the appellant's complaint had not been dealt with in the right perspective, so that the impugned order of the regulator could not stand and required a reasoned fresh decision on all matters in detail.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 20.01.2023
Misc. Application No. 1563 of 2022 In Appeal No. 687 of 2022
Dr. S. K. Gupta 24/35,Tilak Nagar, ..... Applicant New Delhi - 110018. (Org. Appellant)
Versus
1.
Securities and Exchange Board of India 8th Floor, Plate B, Tower 1, NBBC Complex, East Kidwai Nagar, New Delhi - 110023.
2. Frenchise, Lakshmi Nagar, Shahadra, Delhi (Now run away).
3. Anand Rathi Share & Stock Brokers, Times Tower, Kamla City, Mumbai - 400013 ... Respondents
Dr. S. K. Gupta, Applicant in person.
Mr. Sumit Rai, Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Mayur Jaisingh, Advocates i/b. K Ashar & Co. for the Respondent Nos. 1.
None for the Respondent Nos. 2 and 3.
CORAM : Justice Tarun Agarwala, Presiding Officer Ms. Meera Swarup, Technical Member 2
Per : Justice Tarun Agarwala, Presiding Officer (Oral)
1. Cause shown is sufficient. The restoration application is
allowed. The appeal is restored to its original number.
2. We have heard the appellant in person and the learned counsel
for the respondent. We find that appellant's complaint has not been
dealt with in the right perspective and, consequently, we set aside the
impugned order and direct SEBI to pass a fresh order giving reasons
and further considering all the matters in detail. Such order should
be passed within three months from today. The appeal is allowed.
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 Technical Member 20.01.2023 PRAMILA Digitally signed by PRAMILA TANAJI PTM TANAJI MISAL Date: 2023.01.20 MISAL 17:19:56 +05'30'
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