Rajesh Jajoo vs Sebi

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision : 22.02.2022 Misc. Application No. 137 of 2022 And Misc. Application No. 138 of 2022 And Misc. Application No. 139 of 2022 And Appeal No. 83 of 2022 Rajesh Jajoo A 77, Amantran Bunglows 2, Guma Daskroi, Ahmedabad, Gujarat - 380 058. ..... Appellant Versus Securities and Exchange Board of India SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051. .... Respondent Mr. Ram Awatar Dhoot, Advocate i/b R.A. Dhoot & Co. for the Appellant. Mr. Abhiraj Arora, Advocate with Mr. Karthik Narayan, Mr. Harshvardhan Nankani, Mr. Shourya Tanay and Mr. Anshu Mehta, Advocates i/b ELP for the Respondent (SEBI). CORAM : Justice Tarun Agarwala, Presiding Officer Justice M.T. Joshi, Judicial Member Per : Justice Tarun Agarwala, Presiding Officer (Oral) 2 1. There is a delay in the filing of the appeal. For the reasons stated in the application, the delay in the filing of the appeal is condoned. The application is allowed. 2. We have heard the learned counsel for the appellant. Many arguments have been raised with regard to violation of Article 14, 16, 19(1)(g) and 20(1) of the Constitution, Evidence Act and in support it has been contended that the impugned order is incorrect and the decision of this Tribunal in Global Earth Properties and Developers Pvt. Ltd. vs SEBI is not applicable.

We have asked a pertinent question and we have also perused the impugned order and we find that no such objection was raised before the authority. Consequently, we are of the opinion that the new grounds cannot be taken before us in this appeal which has not been urged before the Adjudicating Officer of the Securities and Exchange Board of India. 3. Having perused the impugned order, we find that the controversy involved in the present appeal is squarely covered by the decision of this Tribunal in Global Earth Properties and Developers Pvt. Ltd. vs. SEBI, Appeal No. 212 of 2020 decided on September 14, 2020. 4. The appeal fails and is dismissed with no order as to costs. The miscellaneous applications for stay and exemption to file certified copy of the order are also disposed of. 5. The present matter was heard through video conference due to Covid-19 pandemic. At this stage it is not possible to sign a copy of this order nor a certified copy of this order could be issued by the registry. In these circumstances, 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.

Parties will act on production of a digitally signed copy sent by fax and/or email. Justice Tarun Agarwala Presiding Officer Justice M.T. Joshi RAJALA Digitally signed Judicial Member by 22.02.2022 KSHMI NAIR RAJALAKSHMI H Date: 2022.02.28 H NAIR 10:17:16 +05'30' msb