Kanwal Jit Singh vs Sebi on 26 April, 2016

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Securities Appellate Tribunal

Kanwal Jit Singh vs Sebi on 26 April, 2016

Bench: J.P. Devadhar

BEFORE THE SECURITIES APPELLATE TRIBUNAL
                 MUMBAI

                                      Date of Decision: 26.04.2016


                  Misc. Application No. 08 of 2016
                              And
                        Appeal No. 06 of 2016


Kanwal Jit Singh
C 603 Mithras Park,
Rahatani Road,
Pimple Saudagar,
PUNE-411 027                                              ...Appellant

Versus

1.

The Executive Director Investment Management Division Securities and Exchange Board of India, SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051

2. The Executive Trustee UTI Mutual Fund, UTI Tower, 'Gn' Block Bandra Kurla Complex, Bandra (East), Mumbai-400 051

3. The Vice President Operations Department of Operations, UTI Asset Management Company Ltd. UTI Tower, 'Gn' Block Bandra Kurla Complex, Bandra (East), Mumbai-400 051

4. The Managing Director, UTI Trustee Company P Ltd.

UTI Tower, 'Gn' Block Bandra Kurla Complex, Bandra (East), Mumbai-400 051 ...Respondents 2 Mr. Kanwal Jit Singh, Appellant in Person.

Mr. Shyam Mehta, Senior Advocate with Mr. Nishit Dhruva, Mr. Chirag Bhavsar and Ms. Khushbu Chajjed, Advocates i/b MDP & Partners for Respondent No. 1.

Mr. Vishal Talsania, Advocate with Mr. Rohit Sharma, Advocate i/b Ms. Rinku Valanju for Respondent Nos. 2 to 4.

CORAM: Justice J.P. Devadhar, Presiding Officer Dr. C.K.G. Nair, Member Per: Justice J.P. Devadhar (Oral) Misc. Application No. 08 of 2016 In Appeal No. 06 of 2016 By this Misc. Application, appellant seeks waiver of the Court Fees payable on the present appeal on the ground that the appellant had already paid Court Fees in Appeal No. 434 of 2015. Since Appeal No. 434 of 2015 was allowed to be withdrawn with liberty to file fresh appeal, we waive the Court Fees payable in the present appeal and direct the registry to appropriate the Court Fees paid in Appeal No. 434 of 2015 towards the Court Fees payable on the present appeal.

Miscellaneous Application is disposed of accordingly.

Appeal No. 06 of 2016

1. Appellant is basically aggrieved by the communication of Securities and Exchange Board of India ("SEBI" for short) dated August 12, 2015 whereby the complaint on SCORES made by the appellant on November 12, 2014 as well as the subsequent letters addressed by the appellant in that behalf have been rejected by SEBI.

2. In view of the grievance made by the appellant that various contentions raised by the appellant have not been considered in the impugned communication, counsel for SEBI on instruction seeks to withdraw the impugned communication with liberty to pass fresh order on merits and in accordance with law.

3. Accordingly impugned communication dated August 12, 2015 is allowed to be withdrawn with liberty to the appellant to file comprehensive complaint within a period of 15 days from today and on receipt of such complaint, SEBI is granted liberty to pass an appropriate order within a period of 6 weeks thereafter by giving an opportunity of hearing to the appellant.

4. Appeal is disposed of in the above terms with no order as to costs.

Sd/-

Justice J.P. Devadhar Presiding Officer Sd/-

Dr. C.K.G. Nair Member 26.04.2016 Prepared & Compared By: PK

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