Securities Appellate Tribunal
Syncom Healthcare Ltd. & Ors. vs Sebi on 18 May, 2018
Author: J. P. Devadhar
Bench: J. P. Devadhar
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
DATE : 18.05.2018
Misc. Application No. 111 of 2018
And
Appeal No. 145 of 2018
1.Syncom Healthcare Ltd. 502, Advent Ateria, Chincholi Bunder Road, Opp. Kingaston Complex, Malad (West), Mumbai - 400064.
2. Ajay Bankda C/o Syncom Healthcare Ltd. 502, Advent Ateria, Chincholi Bunder Road, Opp. Kingaston Complex, Malad (West), Mumbai - 400064.
3. Jyoti Bankda C/o Syncom Healthcare Ltd. 502, Advent Ateria, Chincholi Bunder Road, Opp. Kingaston Complex, Malad (West), Mumbai - 400064. ..... Appellants Versus Securities and Exchange Board of India SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051. ... Respondent Mr. Yash Jain, Advocate i/b Halai & Co. for the Appellants. Mr. Sagar Ghogre, Advocate with Mr. Nishant Upadhyay, Advocate i/b K. Ashar & Co. the Respondent.
CORAM : Justice J. P. Devadhar, Presiding Officer Dr. C. K. G. Nair, Member Per : Justice J. P. Devadhar (Oral) Misc. Application No. 111 of 2018 :
By this misc. application appellants seek condonation of 33 days delay in filing this appeal. For the reasons stated in the misc. application, delay is condoned. Accordingly, misc. application is disposed of. 2 Appeal No. 145 of 2018 :
1. This appeal is filed to challenge the order passed by the Adjudicating Officer ('A. O.' for short) of Securities and Exchange Board of India ('SEBI' for short) on November 30, 2017.
2. In view of the fact there is no clarity in the impugned order as to whether the penalty is imposed on the entities named therein individually or collectively and in view of the fact that the submissions made by the appellants have not been properly considered in the impugned order, we set aside the impugned order qua the appellants and restore the matter for fresh decision on merits and in accordance with law.
3. Appeal is disposed of in the aforesaid terms with no order as to costs.
Sd/-
Justice J. P. Devadhar Presiding Officer Sd/-
Dr. C. K. G. Nair Member 18.05.2018 Prepared & Compared by PTM