Mr. Ganesh Singhania & Anr. vs Sebi
- CitationReview Application No. 16 of 2019
Ratio decidendi
The rule this decision rests on
The Tribunal will not review an order on the ground that the applicant re-argues the merits; a review requires a cogent reason, and the Tribunal's own prior consideration of mitigating circumstances, which had already produced a reduction of the penalty, is not a ground for reviewing that order.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 11.10.2019
Review Application No. 16 of 2019 In Appeal No. 385 of 2017
1.
Mr. Ganesh Singhania
2. Ms. Anita Singhania Shah & Ramaiya Chartered Accountants, 36/227, RDP 10, Sector VI, Charkop, Kandivali (W), Mumbai - 400 067. ...Appellants
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. Ravi Ramaiya, Chartered Accountant with Mr. Saurabh Bachhawat, Advocate i/b Shah & Ramaiya Chartered Accountants for Appellants.
Mr. Chirag Bhavsar, Advocate i/b MDP & Partners for the Respondent.
CORAM : Justice Tarun Agarwala, Presiding Officer Dr. C.K.G. Nair, Member Justice M.T. Joshi, Judicial Member
Per : Justice Tarun Agarwala, Presiding Officer (Oral) 2
1. Having heard the applicant we do not find any cogent reason
to review our order dated May 20, 2019.
2. We find that we have taken into consideration the mitigating
circumstances and accordingly reduced the penalty from Rs. 2
crore to Rs. 1 crore.
3. The Review Application accordingly fails and is dismissed.
Sd/-
Justice Tarun Agarwala Presiding Officer
Sd/-
Dr. C.K.G. Nair Member
Sd/-
Justice M.T. Joshi Judicial Member 11.10.2019 Prepared and compared by:msb
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