Ra No. 3 Of 2023 In The Matter Of Shweta ... vs Sebi
- CitationReview Application No. 03 of 2023
Ratio decidendi
The rule this decision rests on
The Tribunal's reasoning rests on a single point: where an applicant's case falls within the terms of a settlement scheme issued under Regulation 26 of the SEBI (Settlement Proceedings) Regulations, 2018, the applicant may be directed to apply for settlement under that scheme, and the authority concerned is to treat such an application as one filed in a pending proceeding and pass appropriate orders on it, so that the review application is disposed of on that basis.
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. 57 of 2023 In Review Application No. 03 of 2023 In Appeal No. 301 of 2022 Shweta Doshi B-801, Milano Heights, Bpiplod, ..... Applicant Surat, Gujarat - 395 007. (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. Kamal Agrawal, Authorised Representative 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
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 Technical Member 30.01.2023 PRAMILA Digitally signed by PRAMILA TANAJI TANAJI MISAL PTM MISAL Date: 2023.01.31 16:31:24 +05'30'
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