Gian Finance Limited vs Sebi
- CitationAppeal No. 10 of 2021
Ratio decidendi
The rule this decision rests on
The Tribunal appears to rest its disposal of the appeal on the principle that where the controversy in an appeal is squarely covered by an earlier decision of the same Tribunal, the appeal may be dismissed by following that decision without further examination of the merits. Delay in filing the appeal is condoned on the strength of the reasons stated in the accompanying application, which is a procedural determination with no further legal principle stated.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 21.06.2021
Misc. Application No. 559 of 2021 (Delay Application) And Appeal No. 10 of 2021
Gian Finance Limited 207, Maharshi Debendra Road, 4th Floor, Room No. 73A, Kolkata - 700 007. ...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. Abhiraj Arora, Advocate with Ms. Rashi Dalmia and Mr. Karthik Narayan, Advocates i/b ELP for the Respondent.
CORAM : Justice Tarun Agarwala, Presiding Officer Justice M.T. Joshi, Judicial Member
Per : Justice Tarun Agarwala, Presiding Officer (Oral)
Misc. Application No. 559 of 2021
1.
There is a delay in the filing of the appeal and
accordingly an application has been filed for condoning the 2
delay. For the reasons stated in the application, the delay in
filing the appeal is condoned. The Misc. Application is
allowed.
Appeal No. 10 of 2021
2. The appellant has filed the present appeal against the
order dated September 26, 2019 whereby a penalty of Rs. 5
lakh has been imposed. The controversy involved in the
present appeal is squarely covered by a decision of this
Tribunal in the matter of Global Earth Properties and
Developers Pvt. Ltd. vs. SEBI (Appeal No. 212 of 2020
decided on September 14, 2020).
3. In view of the aforesaid, the appeal is dismissed with no
order as to costs.
4. The present matter was heard through video conference
due to Covid-19 pandemic. At this stage it is not possible to
sign a copy of this order nor a certified copy of this order
could be issued by the registry. In these circumstances, this
order will be digitally signed by the Private Secretary on
behalf of the bench and all concerned parties are directed to 3
act on the digitally signed copy of this order. Parties will act
on production of a digitally signed copy sent by fax and/or
email.
Justice Tarun Agarwala Presiding Officer
Justice M.T. Joshi Judicial Member 21.06.2021 Digitally signed RAJALA byRAJALAKSHMI H KSHMI NAIR Date:
msb H NAIR 2021.06.24 10:05:47 +05'30'
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