Smt. Balwant Kaur vs Sebi
- CitationAppeal No. 688 of 2022
Ratio decidendi
The rule this decision rests on
The appeal is decided by reference to the Tribunal's earlier decision in Akash & Ors. v. SEBI (Appeal No. 27 of 2022, decided 13 May 2022) on an identical controversy arising from the same impugned order. The reasoning adopted is that where the question in an appeal is squarely covered by a prior decision of the Tribunal, that decision governs and the appeal is disposed of by applying its reasons; the present order itself states no independent reasoning on the merits. Delay in filing the appeal is condoned on the showing made in the accompanying application.
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: 17.10.2022 Misc. Application No. 1204 of 2022 And Misc. Application No. 1147 of 2022 And Misc. Application No. 1148 of 2022 And Appeal No. 688 of 2022 Smt. Balwant Kaur D/o Late Sh Gurdip Singh R/o House No. 819 GH 5 & 7, Paschim Vihar, New Delhi- 110 063 ...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. Yash Kadyan, Advocate i/b Legum Paritis for the Appellant. Mr. Suraj Chaudhary, Advocate with Mr. Nishit Dhruva, Mr. Ravishekhar Pandey and Ms. Shefali Shankar, Advocates i/b. MDP & Partners for the Respondent. CORAM: Justice Tarun Agarwala, Presiding Officer Ms. Meera Swarup, Technical Member Per: Justice Tarun Agarwala, Presiding Officer (Oral) 2 1. Since the matter has been taken up for hearing, the urgency application is disposed of. 2. For the reasons stated in the application, the delay in filing the appeal is condoned. The application is allowed. The exemption application is also allowed. 3. Having heard the learned counsel for the parties, we find that the controversy involved in the present appeal is squarely covered by a decision of this Tribunal in Appeal No. 27 of 2022 Akash & Ors. vs. SEBI decided on May 13, 2022 which was against the same impugned order. 4. For the reasons stated in the decision of this Tribunal dated May 13, 2022 the appeal is partly allowed. The violation is affirmed. However, the penalty is reduced to Rs. 1 lakh which shall be paid by the appellant within four weeks from today. 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 3 this order is also available from the Registry on payment of usual charges. Justice Tarun Agarwala Presiding Officer Ms. Meera Swarup Technical Member RAJALAKS Digitally signed by HMI RAJALAKSHMI 17.10.2022 HARISH HARISH NAIR Date: 2022.10.27 PK NAIR 16:13:57 +05'30'
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