Namdeo Kisan Tajane vs Sebi
- CitationAppeal No. 390 of 2023
Ratio decidendi
The rule this decision rests on
The delay in filing the appeals is condoned for the reasons stated in the applications, and the controversy is held to be squarely covered by the Tribunal's earlier decision in Dukes Products (India) Ltd. vs. SEBI (Appeal No. 431 of 2020, decided 3 January 2023), with the appeal against the Whole Time Member's order dismissed on that basis, affirming the violation while quashing the penalty imposed by the Adjudicating Officer.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 28.04.2023
Misc. Application No. 467 of 2023 And Appeal No. 390 of 2023
Namdeo Kisan Tajane A-1002, Shreeji Ville Co-Op. Housing Society Ltd., Opp. Nitin Company, Almeida Road, Panchpakhadi, Thane (W) - 400602. ..... 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. 508 of 2023 And Misc. Application No. 509 of 2023 And Appeal No. 405 of 2023
Namdeo Kisan Tajane A-1002, Shreeji Ville Co-Op. Housing Society Ltd., Opp. Nitin Company, Almeida Road, Panchpakhadi, Thane (W) - 400602. ..... 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
Mr. Chirag Shetty, Advocate i/b Pythagoras Legal for the Appellant.
Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Purvi Jain, Ms. Hubab Sayyed, Mr. Raghav Taneja, Advocates i/b Vidhii Partners for the Respondent.
CORAM : Justice Tarun Agarwala, Presiding Officer Ms. Meera Swarup, Technical Member
Per : Justice Tarun Agarwala, Presiding Officer (Oral)
1.
There is a delay in the filing of the appeals. For the reasons
stated in the applications, the delay is condoned. Misc. Applications
are allowed.
2. Having heard the learned counsel for the parties, we find that
the controversy involved in the present appeal is squarely covered by
a decision of this Tribunal in Appeal No. 431 of 2020 Dukes
Products (India) Ltd. vs. SEBI and other companion appeals
decided on January 3, 2023.
3. In view of the aforesaid, the appeal filed against the order of
the Whole Time Member is dismissed. While affirming the violation
committed by the appellant, the penalty imposed by the Adjudicating
Officer is quashed. The appeal is partly allowed. 3
4. 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 PRAMILA Digitally signed by PRAMILA TANAJI 28.04.2023 TANAJI MISAL PTM MISAL Date: 2023.04.28 17:28:47 +05'30'
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