Mr. Murari Lal Sarogi vs Sebi

Securities Appellate Tribunal19 November 2020Tarun Agarwala

CitationAppeal No. 414 of 2020

Ratio decidendi

The rule this decision rests on

The appeal is dismissed at the admission stage because the controversy is squarely covered by the Tribunal's earlier decision in Global Earth Properties and Developers Pvt. Ltd. v. SEBI, so the appeal raises no point requiring independent determination.

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

BEFORE THE SECURITIES APPELLATE TRIBUNALMUMBAIDate of Decision: 19.11.2020Appeal No. 414 of 2020Mr. Murari Lal SarogiNo. 8/1, Moyenville Road,Langford Town, Shanthinagar,Bangalore- 560 025 ...AppellantVersusSecurities and Exchange Board of India,SEBI Bhavan, Plot No. C-4A, G-Block,Bandra-Kurla Complex, Bandra (East),Mumbai - 400 051 ...RespondentMr. Kritika Nahate, Advocate i/b Juris Matrix Partners LLP forthe Appellant.Mr. Abhiraj Arora, Advocate i/b ELP for the Respondent.CORAM: Justice Tarun Agarwala, Presiding OfficerDr. C.K.G. Nair, MemberJustice M. T. Joshi, Judicial MemberPer: Justice Tarun Agarwala (Oral)1.The present appeal has been filed against the order datedJanuary 31, 2020 passed by the Adjudicating Officer ("AO" forconvenience) of the Securities and Exchange Board of India("SEBI") imposing a penalty of Rs. 5,00,000/- (Rupees FiveLakhs Only).2

2. Having heard the learned counsel for the appellant

Ms. Kritika Nahate and the learned counsel for the respondent

Mr. Abhiraj Arora, through video conference we find that the

controversy involved in the present appeal is squarely covered

by the decision of this Tribunal in Global Earth Properties and

Developers Pvt. Ltd. vs. SEBI (Appeal No. 212 of 2020 decided

on September 14, 2020).

3. In view of the aforesaid, the appeal lacks merit and is

dismissed at the admission stage itself.

4. The present matter was heard through video conference

due to Covid-19 pandemic. At this stage it is not possible to sign

a copy of this order nor a certified copy of this order could be

issued by the Registry. In these circumstances, this order will be

digitally signed by the Presiding Officer on behalf of the bench

and all concerned parties are directed to act on the digitally

signed copy of this order. Parties will act on production of a

digitally signed copy sent by fax and/or email.

Justice Tarun Agarwala Presiding Officer TARUN Digitally signed by TARUN AGARWAL DN: c=IN, o=PUBLIC WORKS DEPARTMENT UTTAR PRADESH, postalCode=221505, st=Uttar Pradesh, 2.5.4.20=30fcf68685192bbc53e6ff1608a83fb3881de7ac2ab7954d509c

AGARWAL 85ed6e0f7c41, serialNumber=095f8b286bb0b1cd07ff676611f4f5e7999727d404aa38c a422f9d3529bdb8a3, cn=TARUN AGARWAL Date: 2020.11.19 18:17:20 +05'30' Dr. C.K.G. Nair Member

Justice M. T. Joshi Judicial Member 19.11.2020 PK

This page reproduces a public judgment and a summary of it. It is research material, not legal advice, and it is no substitute for advice from an advocate on your own facts.

Research this judgment with Miss Lucy

Ask what it holds, what has followed it, and what it means for your matter — in plain English, with the citations.

Try Miss Lucy free