Reception Tracom Pvt. Ltd. vs Sebi

Securities Appellate Tribunal20 January 2023Tarun Agarwala

CitationAppeal No. 79 of 2023

Ratio decidendi

The rule this decision rests on

The appeal was disposed of by directing the appellant to file a settlement application under the SEBI Settlement Scheme 2022, on the footing that the appellant's case is squarely covered by that scheme, which was issued under Regulation 26 of the SEBI (Settlement Proceedings) Regulations, 2018. Where a settlement application is filed within the time fixed, the authority is to accept it as an application filed in a pending proceeding and pass appropriate orders on it.

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

Judgment

As delivered

BEFORE THE SECURITIES APPELLATE TRIBUNALMUMBAIDate of Decision : 20.01.2023Misc. Application No. 1785 of 2022AndMisc. Application No. 1786 of 2022AndAppeal No. 79 of 2023Reception Tracom Pvt. Ltd.63, Rafi Ahmed Kidwai Road,Cabin No. 107, Kolkata,West Bengal - 700016. ..... AppellantVersusSecurities & Exchange Board of IndiaSEBI Bhavan, Plot No. C-4A, G Block,Bandra Kurla Complex, Bandra (East),Mumbai - 400 051. ...... RespondentMr. Ram Awatar Dhoot, Advocate for the Appellant.Mr. Abhiraj Arora, Advocate i/b ELP for the Respondent.CORAM : Justice Tarun Agarwala, Presiding OfficerMs. Meera Swarup, Technical MemberPer : Justice Tarun Agarwala, Presiding Officer (Oral)1.

There is a delay in the filing of the appeal. For the reasons

stated in the application, the delay is condoned. Misc. Application is

allowed.

2. We find that the appellant's case is squarely covered by the

SEBI Settlement Scheme 2022 which has been issued in terms of 2 Regulation 26 of Securities and Exchange Board of India

(Settlement Proceedings) Regulations, 2018.

3. In view of the aforesaid, we dispose of the appeal directing

the 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

the SEBI Settlement Scheme 2022 as an application filed in a

pending proceeding and pass appropriate orders.

4. The appeal is disposed of.

5. 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

Ms. Meera Swarup Technical Member 20.01.2023 PRAMILA Digitally signed by PRAMILA TANAJI TANAJI MISAL PTM MISAL Date: 2023.01.20 17:12:13 +05'30'

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