Mr. Sanjay Kanoria & Ors. vs Sebi
- CitationAppeal No.776 of 2022
Ratio decidendi
The rule this decision rests on
A litigant who has invoked the jurisdiction of this Tribunal on an issue that is simultaneously pending before another forum cannot pursue the same remedy in both forums at once, and the appeal may be dismissed on that ground at the threshold stage.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision: 2.2.2023
Appeal No.776 of 2022 1.
Mr. Sanjay Kanoria A-136, Neeti Bagh, New Delhi - 110049.
2. Mrs. Priyadarshini Kanoria A-136, Neeti Bagh, New Delhi - 110049. ...Appellants
Versus
1. Securities and Exchange Board of India SEBI Bhawan, Plot No.C-4A, G Block, Bandra Kurla Complex, Mumbai - 400051.
2. BSE Limited 25th Floor, P.J. Towers, Dalal Street, Mumbai, Maharashtra - 400001.
3. Central Depositories Services (India) Ltd. (CDSL) Marathon Futurex, A-Wing, 25th Floor, NM Joshi Marg, Lower Parel, Mumbai-400013.
4. National Securities Depository Ltd. (NSDL) Trade World, A-Wing, 4th Floor, Kamala Mills Compound, 2
Lower Parel, Mumbai - 400013.
5. M/s. Vishvjyoti Trading Ltd. (VTL) 7-A Sai Sakti CHS., L.T. Road, Nr. Railway Station, Dahisar West, Mumbai - 400063. ...Respondents
Mr. Sukrut Mhatre, Advocate for the Appellant.
Mr. Ravishekhar Pandey, Advocate with Ms. Shefali Shankar, Ms. Rasika Ghate and Mr. Nishit Dhruva, Advocate i/b. MDP & Partners for the Respondent. Mr. Pesi Modi, Senior Advocate with Mr. Manish Chhangani, Ms. Samreen Fatima and Mr. Sumit Yadav, Advocates i/b. The Law Point for the Respondent No.2 (BSE).
Mr. Pulkit Sukhramani, Advocate with Ms. Vidhi Jhawar and Mr. Deepank Anand, Advocates i/b. JSA for the Respondent no.4.
CORAM: Justice Tarun Agarwala, Presiding Officer (Oral) Ms. Meera Swarup, Technical Member
1. During the course of the argument the Tribunal was
informed that on an identical issue a writ petition has
been filed before the Delhi High Court which is still
pending consideration.
3 2. We are of the opinion that the appellant cannot
pursue the same remedy at two different forums. The
appeal is dismissed at this stage.
3. This order will be digitally signed by the Private
Secretary on behalf of the bench and all concerned
parties are directed to act on 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
RAJALAKS Digitally signed by HMI RAJALAKSHMI
2.2.2023 HARISH HARISH NAIR NAIR Date: 2023.02.03 14:41:50 +05'30' RHN
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