Godghate Sugandha Sitarampant vs Sebi

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision : 22.02.2022 Appeal No. 80 of 2022 Godghate Sugandha Sitarampant C/o Dr. Saba Akhter Husain, Nida Hospital, Shri Ram Nagar Badlapur Road, Post - Shegaon, PIN - 444 203, District Buldana, Maharashtra. ..... 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. Adarsh Kothari, Advocate for the Appellant. Mr. Abhiraj Arora, Advocate with Mr. Karthik Narayan, Mr. Harshvardhan Nankani, Mr. Shourya Tanay and Mr. Anshu Mehta, Advocates i/b ELP for the Respondent (SEBI). CORAM : Justice Tarun Agarwala, Presiding Officer Justice M.T. Joshi, Judicial Member Per : Justice Tarun Agarwala, Presiding Officer (Oral) 1. One of the contentions raised was that in the instant case there have been only two reversal trades whereas in the case of Global Earth Properties and Developers Pvt. Ltd. there 2 were many reversal trades and therefore the matter is distinguishable. Further, the counter-party was issued a show cause notice in the year 2018 and thereafter the counter-party was charged and the penalty order was passed.

In the instant case, the show cause notice was issued on the appellant in 2020 and accordingly it is stated that there has been prejudice as the show cause notice should have been served earlier when the counter-party was served. 2. Having heard the learned counsel for the appellant on this aspect we do not find it to be a case of prejudice only on the ground that the counter-party was served with the show cause notice at an earlier point of time. 3. Having perused the impugned order, we find that the controversy involved in the present appeal is squarely covered by the decision of this Tribunal in Global Earth Properties and Developers Pvt. Ltd. vs. SEBI, Appeal No. 212 of 2020 decided on September 14, 2020. 4. The appeal fails and is dismissed with no order as to costs. 5. The present matter was heard through video conference due to Covid-19 pandemic. At this stage it is not possible to 3 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 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 RAJALA Digitally by signed Judicial Member 22.02.2022 KSHMI NAIR RAJALAKSHMI H Date: 2022.02.28 H NAIR 10:16:16 +05'30' msb