Kamal Kumar vs Sebi
- CitationAppeal No. 278 of 2024
Ratio decidendi
The rule this decision rests on
The Tribunal condoned a delay of 172 days in filing the appeal on the reasons stated in the application, and the delay was accordingly condoned. An appeal may be dismissed with liberty to the appellant to approach the regulator for relief under a settlement scheme announced by that regulator, where the appellant has expressed a desire to avail of the scheme; such a dismissal does not preclude the regulator from considering the appellant's case for settlement.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Kamal Kumar 46, Braham Bazar, Chandausi, Uttar Pradesh - 202412. ..... Appellant
Versus
Securities & Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. ... Respondent
Ms. Salonee Shah, Company Secretary for the Appellant.
Mr. Manish Chhangani, Advocate with Mr. Sumit Yadav, Mr. Abhay Chauhan, Mr. Atul Kumar Agrawal, Advocates i/b The Law Point for the Respondent.
CORAM : Justice P. S. Dinesh Kumar, Presiding Officer Ms. Meera Swarup, Technical Member Dr. Dheeraj Bhatnagar, Technical Member
Per : Justice P. S. Dinesh Kumar, Presiding Officer (Oral) 2
1.
There is a delay of 172 days in the filing of the appeal. For
the reasons stated in the application, the delay is condoned. Misc.
Application is disposed of.
2. Urgency application has worked for itself. Application is
accordingly disposed of. Exemption application is allowed.
3. Learned counsel for the appellant submits that SEBI has come
out with the Settlement Scheme, 2024 and the appellant desires to
avail the scheme. In view of said submission, this appeal is
dismissed with liberty to approach the SEBI to seek relief under the
Settlement Scheme. Accordingly, Appeal is disposed of.
4. As prayed for, we make it clear that dismissal of this appeal
shall not come in the way of SEBI considering appellants case for
settlement.
Justice P. S. Dinesh Kumar Presiding Officer
Ms. Meera Swarup Technical Member
Dr. Dheeraj Bhatnagar Technical Member 01.05.2024 PRAMILA Digitally signed by PRAMILA TANAJI MISAL TANAJI MISAL Date: 2024.05.03 12:40:23 +05'30'
PTM
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