Securities Appellate Tribunal
Sumangal Industries Limited And Others vs Sebi on 16 November, 2015
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Appeal No.426 of 2015
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