Jayesh Ramniklal Dedhia vs Sebi
- CitationAppeal No.993 of 2022
Ratio decidendi
The rule this decision rests on
Where an appellant's case falls within the terms of a SEBI settlement scheme issued under Regulation 26 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, the appeal may be disposed of by directing the appellant to file a settlement application before the concerned authority within a fixed period, and that application, if filed, is to be treated as an application made in a pending proceeding and decided in accordance with the scheme.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision: 8.12.2022 Misc. Application No.1581 of 2022 And Appeal No.993 of 2022 Jayesh Ramniklal Dedhia No.201/202, Pratap Heritage Chs. Ltd., Opp. Veer Savarkar Garden, L T Road, Borivali (West), Mumbai - 400 092. ...Appellant Versus Securities and Exchange Board of India SEBI Bhavan, Plot No.C-4A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051. ...Respondent Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates for the Appellant. Mr. Abhiraj Arora, Advocate with Mr. Shourya Tanay, Ms. Misbah Dada 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) 2 1. There is a delay in the filing of the appeal. For the reasons stated in the application, the delay in the filing of the appeal is condoned. The application is allowed. 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 accordingly. 4. This order will be digitally signed by the Private Secretary on behalf of the bench and all concerned parties 3 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 RAJALAKSH Digitally signed by RAJALAKSHMI MI HARISH HARISH NAIR Date: 2022.12.13 8.12.2022 NAIR 11:59:32 +05'30' RHN
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