Jitendra Babubhai Chokshi vs Sebi

Date of Decision: 17.06.2021

Misc. Application No. 541 of 2021 (Delay Application) And Appeal No. 387 of 2021

Jitendra Babubhai Chokshi A-11, Satellite Centre, Opp. Management Enclave, Vastrapur, Ahmedabad, Gujarat- 380 054 ...Appellant

Versus

1.

Securities and Exchange Board of India, SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 051

2. L&T Ltd.

L&T House, N.M. Marg, Ballard Estate, Mumbai, Maharashtra- 400 001

3. Karvy Fintech Private Limited Karvy Selenium Tower-B, Plot No. 31 & 32 Gachibowli, Financial District, Nanakramuga, Serillingampally, Hyderabad, Telangana- 500 031 ...Respondents

Mr. Jitendra Sharda, Advocate for the Appellant.

Mr. Sumit Rai, Advocate with Mr. Mihir Mody, Mr. Arnav Misra and Mr. Mayur Jainsingh, Advocates i/b. K. Ashar & Co. for Respondent No. 1.

2

Mr. Vishal Kanade, Advocate with Mr. Rashid Boatwalla and Ms. Lipsa Unadkat, Advocates i/b. MKA & Co. for the Respondent No. 2.

CORAM: Justice Tarun Agarwala, Presiding Officer Justice M. T. Joshi, Judicial Member

Per: Justice Tarun Agarwala, Presiding Officer (Oral)

1. The present appeal has been filed against the disposal

of their complaint on the Securities and Exchange Board of

India Complaints Redress System ("SCORES") platform by

communication dated February 17, 2021 and March 03, 2021.

We find from a perusal of the appeal that the appellant had

purchased some shares of respondent no. 1 Company in 1991

and applied for transfer of the shares in his name. It is alleged

that most of the shares were transferred except 50 shares.

Certain correspondence have been made and since nothing

happened, the present complaint was filed after 27 years with

regard to the non-transfer of the shares in the appellants demat

accounts which complaint has been disposed of by the

impugned communication.

2. Having heard the learned counsel for the parties, we are

of the opinion that the SCORES platform cannot be utilized to

settle private disputes between two parties which are 27 years 3

old. The complaint was rightly disposed of by the respondents

on the SCORES platform. We do not find any manifest effor in

the impugned communication for this Tribunal to interfere.

Dismissed.

3. 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 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 17.06.2021 RAJALA Digitally by signed

PK KSHMI RAJALAKSHMI NAIR H

Date: 2021.06.18 H NAIR 15:23:27 +05'30'