Manish Kandhari Huf vs Sebi
- CitationAppeal No. 243 of 2022
Ratio decidendi
The rule this decision rests on
The Tribunal may recall its own order dissolving an earlier dismissal for want of prosecution where the non-appearance was caused by a technical glitch in virtual hearing, and restore the appeal to its original number. Where an appellant's case falls within the terms of a settlement scheme framed under the applicable settlement regulations, the appeal may be disposed of by directing the appellant to apply for settlement within a fixed time, with the authority directed to accept that application as one filed in a pending proceeding and to pass appropriate orders on it.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 20.01.2023
Misc. Application No. 1770 of 2022 And Misc. Application No. 1771 of 2022 In Appeal No. 243 of 2022
Manish Kandhari HUF 233/5, A. J. C. Bose Road, ..... Applicant Kolkata - 700 020. (Org. 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. Hemant Tiwari, Advocate for the Appellant.
Mr. Abhiraj Arora, Advocate 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.
The appeal was dismissed on merit by an order dated June 2,
2022. The restoration application was filed contending that on
account of technical glitch the learned counsel for the appellant could 2
not appear through virtual mode on that day. The said application
was rejected for want of prosecution on December 13, 2022. Now,
the second restoration application No. 1771 of 2022 has been filed.
2. Considering the facts and circumstances that have been
brought on record, we recall our order dated June 2, 2022. The
restoration application is allowed. The appeal is restored to its
original number.
3. We find that the appellant's case is squarely covered by the
SEBI Settlement Scheme 2022 which has been issued in terms of
Regulation 26 of Securities and Exchange Board of India (Settlement
Proceedings) Regulations, 2018.
4. 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
the SEBI Settlement Scheme 2022 as an application filed in a
pending proceeding and pass appropriate orders.
5. The appeal is disposed of.
6. This order will be digitally signed by the Private Secretary on
behalf of the bench and all concerned parties are directed to act on 3
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 20.01.2023 PRAMILA Digitally by PRAMILA signed
PTM TANAJI TANAJI MISAL Date: 2023.01.20 MISAL 17:18:51 +05'30'
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