Vivek Rungta Huf vs Sebi
- CitationAppeal No. 900 of 2022
Ratio decidendi
The rule this decision rests on
The appellant's case falls within the SEBI Settlement Scheme 2022, framed under Regulation 26 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, and the appeal is therefore disposed of by directing the appellant to file a settlement application before the competent authority within two weeks, which the authority is to treat as an application made in a pending proceeding and decide 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. 1462 of 2022 And Misc. Application No. 1463 of 2022 And Appeal No. 900 of 2022 Vivek Rungta HUF Tyre Service Centre, Pokg Ashram, Dhanbad, Jharkhand - 828 109. .....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 Ms. Anjali Agrawal, Advocate with Mr. Rajendra Kumar Agrawal, Advocate i/b Anjali Agrawal for the Appellant. Mr. Abhiraj Arora, Advocate with Misbah Dada and 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. The 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 the 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 SEBI Settlement Scheme 2022 as an application filed in a pending proceeding and pass appropriate orders. The appeal is disposed of. Miscellaneous application is disposed of. 4. 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 Technical Member by SHMI RAJALAKSHMI 21.11.2022 HARISH HARISH NAIR Date: 2022.11.28 msb NAIR 10:11:25 +05'30'
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