Shripal Shares And Securities Limited & ... vs Sebi

Date of Decision: 01.02.2021

Misc. Application No. 116 of 2020 (Delay Application) And Appeal No. 113 of 2020

1.

Shripal Shares and Securities Limited

2. Jitendra Harivansh Joshi

12-B, Khatau Building, 1st Floor, Alkesh Dinesh Modi Marg, Fort, Mumbai, Maharashtra, India -400 001 ...Appellants

Versus

Securities and Exchange Board of India, SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 051 ...Respondent

Ms. Rishika Harish, Advocate with Mr. Aditya Bhansali, Ms. Rakshita Poddar, Mr. Suyash Bhandari and Ms. Khyati Bhandari, Advocates i/b Mindspright Legal for the Appellants.

Mr. Anubhav Ghosh, Advocate with Mr. Ravishekhar Pandey, Advocate i/b The Law Point for the Respondent.

2 WITH Misc. Application No. 117 of 2020 (Delay Application) And Appeal No. 114 of 2020

Deendayal Bohara B2/20, Mahesh Nagar, SV Road, Goregaon (West) Mumbai- 400 062 ...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. Aditya Bhansali, Advocate with Mr. Suyash Bhandari and Ms. Khyati Bhandari, Advocates i/b Mindspright Legal for the Appellant.

Mr. Anubhav Ghosh, Advocate with Mr. Ravishekhar Pandey, Advocate i/b The Law Point for the Respondent.

WITH Misc. Application No. 118 of 2020 (Delay Application) And Appeal No. 115 of 2020

More Namdeo H. Namdev More, 1134, Customs Quarters, Uttan Road, Murdha Village, Rai Village, Bhayander (West), Thane-401 101 ...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 3

Mr. Aditya Bhansali, Advocate with Mr. Suyash Bhandari and Ms. Khyati Bhandari, Advocates i/b Mindspright Legal for the Appellant.

Mr. Anubhav Ghosh, Advocate with Mr. Ravishekhar Pandey, Advocate i/b The Law Point for the Respondent.

WITH Misc. Application No. 119 of 2020 (Delay Application) And Appeal No. 116 of 2020

Kishore B. Giri 73, Ganesh Baug, Rahvashi Sangh, T.J. Road, Sewri, Mumbai ...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. Aditya Bhansali, Advocate with Mr. Suyash Bhandari and Ms. Khyati Bhandari, Advocates i/b Mindspright Legal for the Appellant.

Mr. Anubhav Ghosh, Advocate with Mr. Ravishekhar Pandey, Advocate i/b The Law Point for the Respondent.

4 WITH Misc. Application No. 120 of 2020 (Delay Application) And Appeal No. 117 of 2020

Kishorilal Amrutlal Bissa Devi Kutir, Anand Nagar, Caves Rd. Mumbai 400 060 ...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. Aditya Bhansali, Advocate with Mr. Suyash Bhandari and Ms. Khyati Bhandari, Advocates i/b Mindspright Legal for the Appellant.

Mr. Anubhav Ghosh, Advocate with Mr. Ravishekhar Pandey, Advocate i/b The Law Point for the Respondent.

AND Misc. Application No. 121 of 2020 (Delay Application) And Appeal No. 118 of 2020

Chiranjilal Jayaram Vyas 201, A-1 Wing, Tulip Building, Virat Nagar, Virar (West), Mumbai- 401 303 ...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 5

Mr. Aditya Bhansali, Advocate with Mr. Suyash Bhandari and Ms. Khyati Bhandari, Advocates i/b Mindspright Legal for the Appellant.

Mr. Anubhav Ghosh, Advocate with Mr. Ravishekhar Pandey, 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, Presiding Officer (Oral)

1. All the appeals arise from a common order dated

December 24, 2019 passed by the Whole Time Member

("WTM" for convenience) of the Securities and Exchange

Board of India ("SEBI" for convenience) restraining the

appellants from accessing the securities market for a period of

one year and are being taken up together.

2. There is a delay in the filing of the appeals. For the

reasons stated in the applications, the delays in filing the appeals

are condoned. The Misc. Applications are allowed.

3. The WTM had debarred the appellants from accessing the

securities market for a period of one year from December 24,

2019. This period has expired. In the light of the aforesaid, the

learned counsel for the appellants submitted that they may be 6

permitted to withdraw the appeals and may be permitted to raise

the issue in the appeals filed against the order of the AO.

Permission granted. The appeals are dismissed as withdrawn

and the dismissal of the appeals will not come in the way while

arguing the appeals against the order of the AO.

4. The present matters were 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 RAJALAK Digitally signed by RAJALAKSHMI SHMI H H NAIR Date: 2021.02.02 NAIR 12:56:02 +05'30'

Justice M. T. Joshi Judicial Member 01.02.2021 PK