Rekha Pradeep Gangolli vs Sebi
- CitationAppeal No. 879 of 2022
Ratio decidendi
The rule this decision rests on
The appeal is not maintainable under the SEBI Settlement Scheme, 2022, where the impugned penalty order was passed and the penalty paid before that scheme came into force, and the appeal was filed only after it came into force; the settlement scheme therefore does not cover the appellant's appeal and no relief may be granted under it.
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 : 17.11.2022 Misc. Application No. 1370 of 2022 And Misc. Application No. 1371 of 2022 And Appeal No. 879 of 2022 Rekha Pradeep Gangolli City Green Floor No. 3, Flat No. 119, PGH Shah Road, Kolkata, West Bengal - 700 032. .....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, CA i/b R.A. Dhoot & Co. for the Appellant. Mr. Abhiraj Arora, Advocate and Shourya Tanay, Advocate i/b ELP for the Respondent. CORAM : Justice Tarun Agarwala, Presiding Officer Ms. Meera Swarup, Technical Member Per : 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. The Application is allowed. 2. We have heard Shri Ram Awatar Dhoot, Chartered Accountant for the appellant. We find that the impugned order was passed by the Adjudicating Officer ('AO' for short) of the Securities and Exchange Board of India ('SEBI' for short) on March 4, 2022 based on which the penalty amount was paid without any protest on April 11, 2022. The SEBI Settlement Scheme 2022 came into force from August 22, 2022 based on which the present appeal has been filed on November 3, 2022. 3. In our view the appeal of the appellant will not be covered by the Settlement Scheme and consequently no relief can be granted to the appellant. The appeal is dismissed. Miscellaneous 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 Ms. Meera Swarup RAJALAKS Digitally signed by Technical Member HMI RAJALAKSHMI 17.11.2022 HARISH HARISH NAIR Date: 2022.11.24 NAIR 11:02:06 +05'30' msb
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