Shakul Wealth Advisory vs Sebi

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision: 11.10.2022 Misc. Application No. 993 of 2022 And Misc. Application No. 994 of 2022 And Appeal No. 657 of 2022 Shakul Wealth Advisory Shop No. 418, Ambrossia Business Hub, V.I.P. Road, Surat- 395 007 ...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. J J Bhatt, Advocate with Ms. Rinku Valanju, Ms. Hetal Joshi, Mr. Aditya Shah and Mr. Kush Khandelwal, Advocates for the Appellants. Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Deepti Mohan, Ms. Binjal Samani, Ms. Purvi Jain and Mr. Niket Dalal, Advocates i/b Vidhii Partners 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. The present appeal has been filed seeking clarification of an email sent by Securities and Exchange Board of India ("SEBI" for convenience) dated April 18, 2022 by this email the appellant was informed that the Whole Time Member has 2 become functus officio after the final order has been passed and, therefore, it was not possible for the WTM to re-examine the matter which had attained finality. 2. Having heard the learned counsel for the appellant, we are of the opinion that since the final order dated August 13, 2021 has not been challenged by the appellant, we are unable to modify or provide any kind of clarification to the said order. 3. The appeal consequently fails and is dismissed. All the misc. applications are 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 Justice M. T. Joshi Judicial Member Ms. Meera Swarup Technical Member RAJALA Digitally by signed 11.10.2022 KSHMI NAIR RAJALAKSHMI H Date: 2022.10.13 PK H NAIR 18:30:58 +05'30'