Mr. Pessi N. Dadina And Others vs Sebi

Date of Decision: 8.11.2019

Appeal No.112 of 2019

1.

Mr. Pessi N. Dadina 7A, Hospital Street, 2nd Floor, Kolkata-700072, West Bengal.

2. Mr. Zarin P. Dadina 7A, Hospital Street, 2nd Floor, Kolkata-700072, West Bengal.

3. Ms. Varez K. Dadina 7A, Hospital Street, 2nd Floor, Kolkata-700072, West Bengal.

4. Mr. Navzer K. Dadina 7A, Hospital Street, 2nd Floor, Kolkata-700072, West Bengal. ..... Appellants

Versus

National Stock Exchange of India Ltd. Exchange Plaza, Block G, C-1, Bandra Kurla Complex, G Block-BKC, Bandra East, Mumbai-400051. ...... Respondent

Mr. Nimay Dave, Advocate with Ms. Aparna Wagle and Mr. Yash Garach, Advocates for the Appellants.

Mr. Rashid Boatwalla, Advocate with Ms. Shreya Anuwal, Advocate i/b. Manilal Kher Ambalal & Co. 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 (Oral) 2

1. The controversy involved in the present appeal is

squarely covered by the decision of this Tribunal in Chokhani

International Limited vs. BSE Limited in Appeal no.348 of

2018 decided on 7th August, 2019.

2. For the reasons stated in the said decision, in the

instant case we find that after the issuance of the show cause

notice, no opportunity of personal hearing was provided to

the appellant. Consequently, the impugned order is violative

of the principles of natural justice as embodied under Article

14 of the Constitution of India.

3. For the reasons stated aforesaid, the impugned order

cannot be sustained and is quashed. The appeal is allowed.

The respondent is directed to proceed from the stage of

issuance of the show cause notice.

Sd/-

Justice Tarun Agarwala Presiding Officer

Sd/-

Dr. C. K. G. Nair Member

Sd/-

Justice M.T. Joshi Judicial Member

8.11.2019 Prepared and compared by RHN