Pushpanjali Hirise Pvt. Ltd. vs Sebi

Securities Appellate Tribunal19 June 2018J. P. Devadhar

CitationAppeal No.14 of 2018

Ratio decidendi

The rule this decision rests on

The Tribunal may, in the peculiar facts of a case where a party has shown inclination to comply with a conditional order for withdrawal of an appeal with liberty to refile, extend the time for payment of the costs imposed as a condition of that liberty, on payment of additional costs for the delay. Where the conditional liberty to file fresh appeals is made dependent on timely payment of costs, the court or tribunal may fix a further period for compliance on terms, and the court fee paid on the withdrawn appeals is to be adjusted against the court fee payable on the fresh appeals filed within the stipulated time.

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

Judgment

As delivered

BEFORE THE SECURITIES APPELLATE TRIBUNALMUMBAI

Date of Decision : 19.6.2018

Misc. Application No.146 of 2018 In Appeal No.14 of 2018

Konark Commerce & Industries Ltd. 6 & 6/3, Shashi Shekhar Bose Road, ..... Applicant/ Kolkata - 700025. Appellant

Versus

Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.147 of 2018 In Appeal No.15 of 2018

Sharadaraj Tradefin Ltd. 1, Croocked Lane, 1st Floor, ..... Applicant/ Room No. 109, Kolkata - 700069. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), 2

Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.148 of 2018 In Appeal No.16 of 2018

Suryamukhi Projects Pvt. Ltd., ..... Applicant/ 1A, Grant Lane, Kolkata - 700 012. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.149 of 2018 In Appeal No.17 of 2018

Blue Print Securities Ltd., 1, Croocked Lane, R. No. 109, ..... Applicant/ 1st Floor, Kolkata - 700069. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, 3

Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.150 of 2018 In Appeal No.18 of 2018

Sunshine Housecon Ltd.

1, Croocked Lane, R. No. 109, ..... Applicant/ 1st Floor, Kolkata - 700069. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.151 of 2018 In Appeal No.19 of 2018

Mangalmayee Hirise Pvt. Ltd., 1A, Grant Lane, Room No.114, ..... Applicant/ Kolkata - 700 012. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

4 2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.152 of 2018 In Appeal No.20 of 2018

Makesworth Project & Developers Pvt. Ltd., B-10/4, Karunamoyee Housing Estate, ..... Applicant/ Salt Lake City, Kolkata - 700091, West Bengal. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.153 of 2018 In Appeal No.21 of 2018

Shirdhan Jewellery Pvt. Ltd., 1A, Grant Lane, Kolkata - 700 012, West Bengal. ..... Applicant/ Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), 5

Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.154 of 2018 In Appeal No.22 of 2018

Growfast Realtors Pvt. Ltd. 58, N. N. Road, Hind Colony, ..... Applicant/ Basu Villa, 1st Floor, Kolkata - 700028. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.155 of 2018 In Appeal No.23 of 2018

Silicon Hotel Pvt. Ltd.

House No. 44, Ward No. 40, ..... Applicant/ Kotra Road, Hirapur Raigarh- 496001, Chhattisgarh. Appellant

Versus

1. Adjudicating Officer, 6

Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.156 of 2018 In Appeal No.24 of 2018

Pushpanjali Hirise Pvt. Ltd. 1A, Grant Lane, ..... Applicant/ Room No. 114, Kolkata- 700012. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.157 of 2018 In Appeal No.25 of 2018

Alishan Estates Pvt. Ltd. 212, Martin Burn, 2nd Floor, ..... Applicant/ 1, R. N. Mukherjee Road, Kolkata 700001. Appellant 7

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.158 of 2018 In Appeal No.26 of 2018

Neelkamal Dealcom Pvt. Ltd. 10A, Hospital Street, Room No. 205, ..... Applicant/ 2nd Floor, Kolkata - 700072, West Bengal. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.159 of 2018 In Appeal No.27 of 2018

Pulak Bagchi 8

Sagarika Apptt, Block-AB-3, 15, ..... Applicant/ Old G. T. Road, Bally, Howrah- 711201. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.160 of 2018 In Appeal No.28 of 2018

Neeraj Kedia 12, Pementile Street, Kolkata - 700016. ..... Applicant/ Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.161 of 2018 In Appeal No.29 of 2018 9

Pramod Ramdin Sharma AB-40, Prafulla Kanan (W), ..... Applicant/ Krishnapur, Kolkata - 700059. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.162 of 2018 In Appeal No.30 of 2018

Bajrang Kumar Sultania 1, Croocked Lane, Room No. 109, ..... Applicant/ Kolkata - 700069. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.163 of 2018 In Appeal No.31 of 2018 10

Ajay Kumar Agarwal 6 & 6/3, Shashi Shekhar Bose Road, ..... Applicant/ Kolkata - 700025. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.164 of 2018 In Appeal No.32 of 2018

Raj Narain Pandey 87, Shri Krishna Nagar, ..... Applicant/ Shrirampur, Hooghly - 712205. Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

With Misc. Application No.165 of 2018 In 11 Appeal No.33 of 2018

Umesh Singh 10/1, Alipore Park Place, Kolkata - 700027. ..... Applicant/ Appellant

Versus

1. Adjudicating Officer, Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

2. Securities and Exchange Board of India, SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.

3. Brooks Laboratories Ltd., Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh 174101. ... Respondents

Mr. Anand, Advocate i/b. Upadhyas for the Applicant/Appellant.

Mr. Mihir Mody, Advocate with Mr. Nishant Updhyay, Advocates i/b. K. Ashar & Co. for the Respondent nos.1 and 2. Mr. Vinay Chauhan, Advocate for the Respondent no.3.

CORAM : Justice J. P. Devadhar, Presiding Officer Dr. C.K.G. Nair, Member

Per : Justice J. P. Devadhar (Oral)

1. All these Miscellaneous Applications are filed seeking extension of

time to comply with the order passed by this Tribunal on 5.3.2018.

2. By order dated March 5, 2018 this Tribunal had permitted the

Applicants/Appellants to withdraw the respective appeals with liberty to

file fresh appeals subject to payment of costs of Rs.25000 to be paid by

each appellant to Securities and Exchange Board of India ('SEBI' for short)

within a period of two weeks from that date. Admittedly appellants failed

to pay costs to SEBI within the stipulated time.

12 3. In these circumstances, since the appellants had shown their

inclination to pay costs through demand draft though belatedly, in the

peculiar facts of present case we extend the time to pay costs of Rs.25000

till 3.7.2018 subject to payment of additional costs of Rs.5000 to be paid by

each appellant to SEBI on or before 3.7.2018.

4. If costs of Rs.25000/- plus additional cost of Rs.5000/- are paid by

each appellant to SEBI on or before July 3, 2018 then each appellant is at

liberty to file fresh appeal within 2 weeks thereafter. If the appellants pay

costs and file appeals within the time stipulated herein, then the Court fees

paid on the withdrawn appeals shall be adjusted towards the Court fees

payable on the fresh appeals that may be filed by the appellants.

5. All the Misc. Applications are disposed of accordingly.

Sd/-

Justice J.P. Devadhar Presiding Officer

Sd/-

Dr. C. K. G. Nair Member

19.6.2018 Prepared and compared by RHN

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