Sumangal Industries Limited And Others vs Sebi
- CitationAppeal No.426 of 2015
Ratio decidendi
The rule this decision rests on
The Tribunal will not entertain prayers that are so wide, vague and loosely drafted as to be incapable of specific adjudication, and grounds and pleadings that are not specific render the appeal not maintainable in that form.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of decision: 16/11/2015
1.
Sumangal Industries Limited
2. Subrata Adhikary
3. Madhumita Adhikary
4. Somnath Adhikary
5. Gopal Chandra Adhikary
6. Sarbani Adhikary
7. Astick Umar Roy
8. Debika Adhikary
Room No.8, 10th Floor, Room No.A11 & 12, 20th Floor, Chatterjee International Centre, 33A, J.L. Nehru Road, Kolkata - 700 071. ... Appellants
Versus
1. Securities & Exchange Board of India L&T Chambers, 3rd Floor, 16, Camac Street, Kolkata - 700 017.
2. Reserve Bank of India RBI, Kolkata - 700 001.
3. National Securities Depository Limited Trade World, A Wing, 4th & 5th Floor, Kamala Mills Compound, Lower Parel, Mumbai - 400 013.
4. Central Depository Services (India) Limited 17th Floor, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001.
5. DG, West Bengal Police Bhabani Bhaban, Kolkata - 700 027.
6. Commissioner of Police, Kolkata Lal Bazar, Police Head Quarter, Kolkata - 700 001.
-2- 7. Somnath Dhar 58/1, Patua Tala Lane, Kolkata.
8. Anup Dutta C/o. 581, Patua Tala Lane, Kolkata.
9. Jagjit Sing Rana House No.89, Sector - 15, Sonepat, Haryana - 131 001.
10. Haryana Agriculture Marketing Board Mandi Bhavan, C-6, Sector 6, Panchkula, Chandigarh - 160 172.
11. D.S. Trading Prop. Dalbir Sing Siddharta Enclave, Opp. Power House, Delhi Road, Sonepat - 131 001.
12. Samrat Hotel, Unit of ITDC 50-B, Kautilay Marg, Chanakyapuri, New Delhi - 110 021.
13. Atul Rana House No.89, Sector -15, Sonepat, Haryana - 131 001.
14. Anand Suman Sing House No.89, Sector -15, Sonepat, Haryana - 131 001.
15. Siddharta Karnany 20th Floor, CIC, Kolkata - 700 071.
16. Arun Kumar Karnani 20th Floor, CIC, Kolkata - 700 071.
17. Sunil Kedia 9th Floor, CIC, Kolkata - 700 071.
-3- 18. Harsa Bardhan Ground Floor, CIC, Kolkata - 700 071.
19. Biswanath Bhattacharya 19th Floor, CIC, Kolkata - 700 071.
20. South City Projects Kolkata Ltd.
375, Prince Anwar Saha Road, Kolkata - 68.
21. Mukund Hospitality Pvt. Ltd.
1st Floor, 59D, Chowringhee Road, Kolkata - 20.
22. Amar Traders & Finance Co. Ltd.
10, Raja Subodh Mallick Square, Kolkata - 13.
23. Anukul Cold Storage Pvt. Ltd.
Bhabanandapur, Block-II, Kalna, PO Goda Ananda, Dist. Burdwan - 713 409.
24. Domkal Cold Storage Pvt. Ltd.
Juginda Biswas Para, Jiginda Domkal, Murshidabad - 742 303.
25. United Bank of India UBI, Chowringhee Branch, 50, J.L. Nehru Road, Kolkata - 71.
26. State Bank of India SBI, Burdwan Main Branch, Court Compound, Burdwan - 713 101. ... Respondents
Mr. Subrata Adhikary, Appellant No.2 for Appellants.
Dr. Mrs. Poornima Advani a/w Mr. Anubhav Ghosh, Advocates i/b The Law Point for Respondent No.1.
None for Respondent Nos. 2 to 5, 7, 8, 11, 12, 14 to 26.
-4- Mr. Nirmal Kanti Saha, Sub Inspector of Police, Detective Department, Kolkata Police for Respondent No.6.
Mr. Premkumar Pandey, Advocate for Respondent Nos.9 & 13.
Mr. Kashyap S. Bhalerao a/w Ms. Tejashri Joshi, Advocate, for Respondent No.10.
CORAM : Jog Singh, Member
Per : Jog Singh, Member (Oral)
1. With the consent of the parties, the matter has been taken up and
heard at length. During the course of the hearing, it is noted that the
Appellants have made about 10 vague prayers. The Appellants are praying,
inter alia, to the effect that no civil or criminal Court of Law in India has
jurisdiction to deal with the subject matter of CIS i.e. Collective Investment
Scheme. Similarly one of the prayers is to the effect that all present and future
proceedings in any Civil or Criminal Court of Law in India related to the
subject matter of CIS be quashed. We are afraid that such wide, vague and
loosely drafted prayers can be considered by this Tribunal in the present
proceedings. Such ambiguous prayers are not maintainable. Even the
grounds and pleadings are not specific.
2. At this stage, Shri Subrata Adhikary, Appellant No.2, who appears in
person, submits that he would like to withdraw the present Appeal with
liberty to file fresh and better Appeal with the specific prayers and better
grounds. Dr. Mrs. Poornima Advani, learned Counsel for SEBI, who appears
along with Advocate Mr. Anubhav Ghosh, does not have any objection to the
above request as made by Appellants.
-5- 3. In the circumstances, the present Appeal is disposed off with liberty to
Appellants to withdraw the present Appeal and file a fresh one, if so advised,
within a period of three weeks. Ordered accordingly. No order as to costs.
Sd/-
Jog Singh Member
16/11/2015 Prepared & compared by-ddg
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