R A No. 67 Of 2022 In Appeal No. 148 Of 2022 ... vs Sebi
- CitationReview Application No. 67 of 2022
Ratio decidendi
The rule this decision rests on
The applicant's case falls within the SEBI Settlement Scheme 2022, issued under Regulation 26 of the SEBI (Settlement Proceedings) Regulations, 2018; where a pending appeal's subject matter is covered by such a scheme, the appellant may be directed to file a settlement application before the competent authority within a fixed period, and that application is to be treated as one filed in a pending proceeding and decided on the scheme's terms.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision : 21.11.2022 Review Application No. 67 of 2022 In Appeal No. 148 of 2022 Nidhi Rara 100 Dipayan Complex, Sitla Mata Bazar, Indore, ..... Applicant Madhya Pradesh - 452 001. (Org. 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. Samyak Gangwal, Advocate with Mr. Krishnesh Bapat, Advocate for the Applicant. Mr. Abhiraj Arora, Advocate with Ms. Misbah Dada, Mr. Shourya Tanay, Advocates i/b ELP for the Respondent. CORAM : Justice Tarun Agarwala, Presiding Officer Justice M. T Joshi, Judicial Member Ms. Meera Swarup, Technical Member Per : Justice Tarun Agarwala, Presiding Officer (Oral) 1. Review application has been filed against the order passed in illiquid stock option matter. 2. We find that the appellant's case is squarely covered by the SEBI Settlement Scheme 2022 which has been issued in terms of the Regulation 26 of Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018. 3. In view of the aforesaid, we dispose of the review application directing the applicant / 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 SEBI Settlement Scheme 2022 as an application filed in a pending proceeding and pass appropriate orders. The review application is disposed of. 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 Justice M. T. Joshi Judicial Member Ms. Meera Swarup RAJALAKS Digitally signed Technical Member by HMI RAJALAKSHMI 21.11.2022 HARISH HARISH NAIR Date: 2022.11.25 NAIR 16:55:37 +05'30' PTM
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