Shubham Maheshwari vs Sebi
- CitationAppeal No. 77 of 2023
Ratio decidendi
The rule this decision rests on
The Tribunal's disposal rests on the proposition that where an appellant's case falls within the terms of a settlement scheme framed under the SEBI (Settlement Proceedings) Regulations, 2018, the appeal may be disposed of by directing the appellant to apply for settlement under that scheme within a fixed period, and by directing the authority to treat such an application as filed in a pending proceeding and to pass appropriate orders on it.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 20.01.2023
Misc. Application No. 66 of 2023 And Appeal No. 77 of 2023
Shubham Maheshwari 16-B, Shiv Moti Hardia Nagar, Indore, M. P. - 452 002. ..... Appellant
Versus
Securities & Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. ...... Respondent
Mr. B. M. Maheshwari, Advocate for the Appellant.
Mr. Abhiraj Arora, 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. 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 by PRAMILA signed
PTM TANAJI TANAJI MISAL Date: 2023.01.20 MISAL 17:10:54 +05'30'
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