Nikita Khetawat vs Sebi
- CitationAppeal No. 136 of 2023
Ratio decidendi
The rule this decision rests on
The delay in filing the appeal is condoned on the reasons stated in the application. Where an appellant's case is squarely covered by a settlement scheme issued under the SEBI (Settlement Proceedings) Regulations, 2018, the appeal may be disposed of by directing the appellant to apply for settlement under that scheme within a fixed period, with the authority required to accept the application as one filed in a pending proceeding and to pass appropriate orders on it, notwithstanding that the scheme has been stated to have closed.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 30.01.2023
Misc. Application No. 118 of 2023 And Appeal No. 136 of 2023 Nikita Khetawat Radiant Tower, Flat No. 201, Mahatma Gandhi Road, GS Road, Christian Basti, Kamroop, Assam - 781 005. ..... Appellant
Versus
Securities & Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. ...... Respondent
Mr. Abhiraj Arora, Advocate with Mr. Shourya Tanay, Ms. Misbah Dada, Mr. Deepanshu Agarwal, Advocates i/b ELP 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 appeal. For the reasons
stated in the application, the delay is condoned. Misc. Application is
allowed.
2. We find that the appellant's case is squarely covered by the
SEBI Settlement Scheme 2022 which has been issued in terms of 2
Regulation 26 of Securities and Exchange Board of India (Settlement
Proceedings) Regulations, 2018.
3. In view of the aforesaid, we dispose of the appeal directing the
appellant to file an appropriate application for settlement before the
authority concerned within two weeks from today. If the same is
filed, the authority will accept the settlement application in terms of
the SEBI Settlement Scheme 2022 as an application filed in a
pending proceeding and pass appropriate orders.
4. The appeal is disposed of.
5. Even though, it is stated that the Settlement Scheme was closed
on January 21, 2023, nonetheless, respondent will consider the
application under the relevant scheme.
6. 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 30.01.2023 PRAMILA Digitally signed by PRAMILA TANAJI TANAJI MISAL PTM MISAL Date: 2023.01.31 16:37:47 +05'30'
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