M/S. Quantum Securities Pvt. Ltd. vs Sebi

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI

DATE : 12.10.2017

Misc. Application No. 265 of 2017 In Appeal No. 343 of 2015

M/s. Quantum Securities Pvt. Ltd. 103, AVG Bhavan, M-3 Connaught Circus, ... Applicant New Delhi - 110 001. (Org. Appellant)

Versus

1.

Securities & Exchange Board of India SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. M/s. New Delhi Television Ltd.

207, Okhla Industrial Estate, Phase III, ...Respondents New Delhi - 110 020. (Org. Respondents)

Mr. Sandeep Parekh, Advocate with Ms. Deepika Goyal, Advocate i/b Finsec Law Advisors for the Applicant.

Mr. Tomu Francis, Advocate with Mr. Vivek Shah, Advocate for the Respondent No. 1.

Ms. Fereshte Sethna, Advocate with Mr. Adhiraj Malhotra, Advocate i/b DMD Advocates for the Respondent No. 2.

CORAM : Justice J. P. Devadhar, Presiding Officer Jog Singh, Member Dr. C. K. G. Nair, Member

Per : Justice J. P. Devadhar (Oral)

1. Not on board. Taken up by consent of parties.

2. By this misc. application, the applicant seeks modification of our order

passed in aforesaid appeal on October 10, 2017.

3. First Grievance of the applicant is that in para 1 of our order it is recorded

that counsel for the appellant has agreed to make a fresh representation to SEBI

when in fact the suggestion was made by counsel for SEBI and not by the counsel 2 for the appellant. Since counsel for appellant has accepted the suggestion, we see

no reason to modify our order.

4. Second grievance of the applicant is that the applicant must be permitted to

make representation on all issues relating to the violation of securities laws by the

respondent No. 2 and not restricted to the violation set out in the appeal.

5. In our opinion, permitting the appellant to make representation on issues

which are not subject matter of appeal would amount to enlarging the scope of the

representation beyond the grievances set out in the memo of appeal. Therefore, we

see no reason to modify our order on this issue as well.

6. Accordingly, we see no merit in the misc. application and the same is hereby

dismissed with no order as to costs.

Sd/-

Justice J. P. Devadhar Presiding Officer

Sd/-

Jog Singh Member

Sd/-

Dr. C. K. G. Nair Member 12.10.2017 Prepared & Compared by PTM