Mr. Gaurav Gupta vs Sebi

Date of Decision : 31.1.2017

Misc. Application No.358 of 2016 And Appeal No.430 of 2016

Mr. Rajiv Bajaj QD-26, Pitampura, Delhi-110034. ..... 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

With Misc. Application No.365 of 2016 And Appeal No.435 of 2016 Mr. Anuj Nagpal, M-134, Greater Kailash - I, New Delhi-110048. ..... 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

With Misc. Application No.366 of 2016 And Appeal No.436 of 2016 Ms. Anu Nagpal, M-134, Greater Kailash - I, New Delhi-110048. ..... 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 2

With Misc. Application No.369 of 2016 And Appeal No.439 of 2016 Mr. Abheek Nagpal, M - 134, Greater Kailash - I, New Delhi-110048. ..... 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

With Misc. Application No.370 of 2016 And Appeal No.440 of 2016 Mr. Prateek Nagpal, M - 134, Greater Kailash - I, New Delhi-110048. ..... 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. Prakash Shah, Advocate with Mr. Robin Shah, Advocate for the Appellant.

Mr. S.P. Bharti, Advocate with Mr. Pulkit Sukhramani, Advocate i/b. The Law Point for the Respondent.

With Misc. Application No.375 of 2016 And Appeal No.457 of 2016 Mr. Gaurav Gupta, Flat No.B-809, Prateek Sedora, Plot No.E-11, Sec-61, ..... Appellant Noida, Uttar Pradesh - 201307.

Versus

Securities and Exchange Board of India, SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051. ...... Respondent 3

With Misc. Application No.376 of 2016 And Appeal No.458 of 2016 Mr. Sunil Kumar, C- 29, Sector - 61, Noida, Uttar Pradesh - 201301. ..... 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

With Misc. Application No.377 of 2016 And Appeal No.459 of 2016 Ms. Vinita Kumari, SB-93, Shastri Nagar, Ghaziabad, Uttar Pradesh - 201001. ..... 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. Prakash Shah, Advocate with Mr. Robin Shah, Advocate for the Appellant.

Mr. Vishal Kanade, Advocate with Mr. Pulkit Sukhramani, Advocate i/b. The Law Point for the Respondent.

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

Per : Justice J.P. Devadhar (Oral)

1.

In all these appeals, the appellants have challenged the confirmatory order

passed by the Whole Time Member of the Securities and Exchange Board of India

('SEBI' for short) on February 17, 2016 with Miscellaneous Application seeking

condonation of the delay. By the said confirmatory order, the directions contained in 4

the ex-parte ad-interim order dated June 29, 2015 have been confirmed solely on the

ground that the appellants have failed to file their objections.

2. In view of the fact that there is inordinate delay in filing these appeals and in

view of the fact that the appellants though belatedly are objecting to the continuation

of the ex-parte ad-interim order, without going into the merits of the case, we dispose

of these appeals by directing SEBI to consider the case of the appellant and pass an

order after affording an opportunity of personal hearing to the appellants.

3. All the appeals as also the Miscellaneous Applications are disposed of

accordingly with no order as to costs.

Sd/-

Justice J. P. Devadhar Presiding Officer

Sd/-

Dr. C.K.G.Nair Member

31.1.2017 Prepared and compared by RHN