(Arun Mishra and Indira Banerjee, JJ.)
Securities and Exchange Board of India _________________ Appellant;
v.
Ashok Dayabhai Shah and Others ___________________ Respondent(s).
Civil Appeal No. 363 of 2020, decided on January 27, 2020
The Order of the court was delivered by
Order
1. Heard the learned senior counsel appearing for the parties at length.
2. We are of the opinion that certain observations made in Paragraph No. 20 of the impugned order were not called for, such as “the computer generated disposal of a serious complaint speaks volume on the conduct of the respondents” as well as the part of the order relating to “vested interest in not deciding the matter” were not at all called for.
3. May be there was some remiss on the part of SEBI to act as a regulator, but casting aspersion was not warranted in the facts and circumstances of the case. As such, the adverse observations made in Paragraph No. 20 are hereby diluted.
4. However, as prayed for, time is granted to deal with the complaints positively and objectively within four months from today in accordance with law.
5. In view of the above, the appeal is disposed of. Since we have not gone into the merits of the case, as the complaints are to be dealt with by the SEBI, we have not made any observation on the remaining part of the merits of the order in view of the limited relief pressed.
Civil Appeal No(s). 363/2020
Securities and Exchange Board of India _________________ Appellant
v.
Ashok Dayabhai Shah & Ors ______________________ Respondent(s)
(FOR ADMISSION and IA No. 10006/2020-STAY APPLICATION)
Date : 27-01-2020 This appeal was called on for hearing today.
(Before Arun Mishra and Indira Banerjee, JJ.)
For Appellant(s) Mr. Chander Uday Singh, Sr. Adv.
Mr. Pratap Venugopal, Adv.
Ms. Surekha Raman, Adv.
Ms. Ayushi Gaur, Adv.
Mr. Akhil Abraham Roy, Adv.
Ms. Viddusshi, Adv.
for M/s. KJ John And Co.
For Respondent(s) Mr. C. A. Sundaram, Sr. Adv.
Mr. Maninder Singh, Sr. Adv.
Mr. Pulkit Sukhramani, Adv.
Mr. Raghav Sabharwal, Adv. Ms. Vidhi Jhawar, Adv.
Mr. Divyam Agarwal, AOR
UPON hearing the counsel the Court made the following
ORDER
6. The appeal is disposed of in terms of the signed order.
7. Pending interlocutory application(s), if any, is/are disposed of.
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