Sameer Abubakar Lakhani vs Sebi

Date of Decision : 7.1.2020

Appeal No.532 of 2019

Sameer Abubakar Lakhani Plot No.163, She E Panjab, Unique Lane, Behind Tolani College, Andheri (East), Mumbai - 400 069. ..... Appellant

Versus

Securities and Exchange Board of India SEBI Bhawan, Plot No.C4-A, "G" Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. ... Respondent

Mr. Vikas Bengani, Advocate for the Appellant.

Mr. Anubahv Ghosh, Advocate i/b. The Law Point for the Respondent.

CORAM: Justice Tarun Agarwala, Presiding Officer Justice M.T. Joshi, Judicial Member

Per : Justice Tarun Agarwala (Oral)

1.

The appellant has challenged the impunged orders

dated 26th June, 2019 and 24th July, 2019 passed by the

Recovery Officer. One of the grounds raised by the learned

counsel for the appellant is that he is not being heard and his 2

submissions are not being considered by the Recovery

Officer.

2. On the other hand, the Recovery Officer has proceeded

after the issuance of the impugned order by attaching part of

the property. Subsequently, on the request of the appellant

and on payment of Rs.50 lakhs, the attachment has been

withdrawn.

3. In the light of the aforesaid submissions, we dispose of

the appeal, directing that in the event the appellant makes an

application in writing putting down all his submission the

same shall be considered by the Recovery Officer in

accordance with law.

Sd/-

Justice Tarun Agarwala Presiding Officer

Sd/-

Justice M.T. Joshi Judicial Member

7.1.2020 Prepared and compared by RHN