Wealthit Global vs Sebi
- CitationAppeal No.629 of 2023
Ratio decidendi
The rule this decision rests on
The impugned order is set aside and the matter remitted to the adjudicating authority for a fresh order because the appellant was not afforded an opportunity of hearing, the non-hearing being admitted by the respondent, since the appellant was in jail at the relevant time; an order passed without affording the affected party an opportunity of being heard is liable to be set aside on that ground alone and remitted for fresh decision in accordance with law.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Date of Decision: 25.7.2023
Misc. Application No.823 of 2023 And Appeal No.629 of 2023
Wealthit Global (Proprietor Mohit Manghnani) Old Kishan Ice Factory Compound, Near Jagat Dev Talabh Road, Satna, Madhya Pradesh-485001. ...Appellant
Versus
Securities and Exchange Board of India SEBI Bhavan, BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051 Maharashtra. ...Respondent
Mr. Sumit Rai, Advocate with Mr. Manish Chhangani, Ms. Samreen Fatima, Mr. Sumit Yadav and Mr. Abhay Chauhan Advocates i/b. The Law Point for the Respondent.
CORAM: Justice Tarun Agarwala, Presiding Officer Ms. Meera Swarup, Technical Member
Per: Justice Tarun Agarwala, Presiding Officer (Oral)
1.
For the reasons stated in the application, the delay in
the filing of the appeal is condoned. The application is
allowed.
2
2. After hearing the learned counsel for the parties, we
find that no opportunity of hearing was given to the
appellant as he was in jail. This fact is admitted by the
respondent. Thus, on this short ground we set aside the
impugned order and remit the case back to the
respondent to pass a fresh order.
3. In this regard the appellant shall appear before the
authority on 10th August, 2023 and the matter will
proceed thereafter in accordance with law. The appeal
is allowed.
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 Technical Member RAJALA Digitally signed KSHMI by 25.7.2023 RAJALAKSHMI
HARISH HARISH NAIR RHN Date: 2023.07.27
NAIR 10:36:13 +05'30'
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