Ra No. 5 Of 2023 In The Matter Of Vinit ... vs Sebi
- CitationReview Application No. 05 of 2023
Ratio decidendi
The rule this decision rests on
A party that has paid the penalty imposed by an adjudicating order without protest, on the same day its appeal is dismissed, is not entitled to the benefit of a settlement scheme introduced after the adjudicating order was passed.
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. 59 of 2023 In Review Application No. 05 of 2023 In Appeal No. 294 of 2022 Vinit Jagdishprasad Kedia 42/43, Vidhani Cottage, 242, Walkeshwar, ..... Applicant Mumbai - 400 006. (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, Authorized 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.
We have heard the learned counsel for the parties. We find
that the Adjudicating Officer had passed an order dated April 4, 2022
against the which the appeal was filed which was dismissed by this 2
Tribunal on June 22, 2023. We have also been informed that on the
same date the appellant had paid the amount of penalty without any
protest.
2. In view of the aforesaid, the appellant is not entitled for the
benefit of the Settlement Scheme which came out in August 2022.
3. The review application fails and is dismissed.
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 by PRAMILA signed
TANAJI TANAJI MISAL PTM MISAL Date: 2023.01.31 16:32:20 +05'30'
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