Shubhang Exports Ltd. vs Sebi
- CitationAppeal No. 111 of 2020
Ratio decidendi
The rule this decision rests on
The appeal is dismissed in limine because the question raised is squarely covered by the Tribunal's earlier decisions in Global Earth Properties & Developers Pvt. Ltd. v. SEBI and R. S. Ispat v. SEBI, and the Tribunal sees no reason to depart from the opinion expressed in them.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision : 02.02.2021
Appeal No. 111 of 2020
Shubhang Exports Ltd. 1027, West End Mall, 11th Floor, District Centre, Janak Puri, New Delhi - 110058. ..... 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. Vikas Bengani, Advocate for the Appellant. Mr. Abhiraj Arora, Advocate i/b ELP for the Respondent.
CORAM : Justice Tarun Agarwala, Presiding Officer Justice M. T. Joshi, Judicial Member
Per : Justice Tarun Agarwala, Presiding Officer (Oral)
1.
The appellant has challenged the order dated December 18,
2019 passed by the Adjudicating Officer (hereinafter referred to as
'AO') of Securities and Exchange Board of India (hereinafter
referred to as 'SEBI') imposing a penalty of Rs 6 lacs. 2
2. Having heard the learned counsel for the appellant, we do not
find any reason to defer with our opinion given in Global Earth
Properties & Developers Pvt. Ltd. vs. SEBI [Appeal No. 212 of
2020 decided on September 14, 2020] and R. S. Ispat vs. SEBI
[Appeal No. 25 of 2019 decided on September 17, 2020] which
squarely covers the issue.
3. The appeal is accordingly dismissed in limine with no order as
to costs.
4. The present matter was 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 RAJALAK Digitally signed Presiding Officer by RAJALAKSHMI SHMI H H NAIR Date: 2021.02.04 NAIR 10:53:55 +05'30'
Justice M. T. Joshi Judicial Member 02.02.2021 PTM
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