Shubhi Khanna vs Sebi
- CitationAppeal No. 899 of 2022
Ratio decidendi
The rule this decision rests on
The appellant's appeal is disposed of on the footing that her case falls within the SEBI Settlement Scheme 2022, issued under Regulation 26 of the SEBI (Settlement Proceedings) Regulations, 2018; where a party is so covered, the proper course is to direct it to file a settlement application before the competent authority within a fixed period, and the authority is to treat that application as one filed in a pending proceeding and decide it in accordance with the Scheme.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision : 21.11.2022 Misc. Application No. 1461 of 2022 And Appeal No. 899 of 2022 Shubhi Khanna Z-47, Mansarovar Colony, Delhi Road, PS. Majhola Moradabad, Moradabad, Uttar Pradesh - 244 001. ..... 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. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b Prakash Shah & Associates for the Appellant. Mr. Abhiraj Arora, Advocate with Ms. Misbah Dada, Mr. Shourya Tanay, Advocates 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 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. Misc. Application, if any, is also 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 RAJALAK Digitally signed SHMI by RAJALAKSHMI Technical Member 21.11.2022 HARISH HARISH NAIR Date: 2022.11.28 NAIR 12:00:19 +05'30' PTM
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