M/S Swastik Securities & Finance ... vs Sebi
- CitationAppeal No. 115 of 2023
Ratio decidendi
The rule this decision rests on
The appeal is liable to be dismissed as time-barred where it is filed after an unexplained delay of about 1217 days from the impugned order, and no sufficient ground for condonation of that delay is shown. A party that has paid the penalty imposed by an order without protest is not entitled to the benefit of a settlement scheme offered in respect of such order, the matter having reached a quietus by such payment.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 30.01.2023
Misc. Application No. 99 of 2023 In Misc. Application No. 100 of 2023 In Appeal No. 115 of 2023
M/s Swastik Securities & Finance Limited 33, C.R. Avenue, 9th Floor, Room No. 909, Kolkata - 700 012. .....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. Rajiv Kumar Choudhary, Advocate i/b Choudhary Dhanuka & 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)
1.
We have perused the record. We find that the impugned
order was passed on August 26, 2019 and the penalty amount
was paid without protest on April 7, 2021. After the delay of 2
1217 days the present appeal has been filed in order to get the
benefit under the Settlement Scheme. Quite apart from the
fact that there is unduly delay in the filing of the appeal, we
also find that the appellant is not entitled for the benefit of the
settlement scheme as he had already paid the amount without
protest. The matter has reached a quietus. Consequently, the
appeal fails and is dismissed. Miscellaneous applications are
disposed of.
2. 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.
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 30.01.2023 MADHUKAR Digitally signed by MADHUKAR SHAMRAO SHAMRAO BHALBAR msb BHALBAR Date: 2023.01.31 15:37:47 +05'30'
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