Securities Appellate Tribunal
B. N. Rathi Comtrade Pvt. Ltd. vs Sebi on 8 August, 2023
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date : 08.08.2023
Misc. Application No. 673 of 2023
And
Appeal No. 282 of 2023
B. N. Rathi Comtrade Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates
for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 675 of 2023
And
Appeal No. 352 of 2023
Comtrade Commodities Services Ltd.
(formerly known as Edelweiss Comtrade Limited) ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
i/b. Bharucha & Partners for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 771 of 2023
And
Appeal No. 353 of 2023
Abans Commodities (I) Private Limited ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
2
Mr. Samyak Pati, Advocate i/b. RHP Partners for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 364 of 2023
Quadeye Trading ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Sumit Agrawal, Advocate with Mr. Pratham Darad, Mr. Tarun Toprani, Ms. Krishi Jain,
Advocates i/b. Regstreet Law Advisors for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 367 of 2023
Balaji Commodity Futures Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, Chartered Accountant i/b Prakash Shah
& Associates for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 396 of 2023
Share India Commodity Brokers Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, Chartered Accountant i/b Prakash Shah
& Associates for the Appellant.
3
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 674 of 2023
And
Appeal No. 403 of 2023
CIL Commodities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, Chartered Accountant i/b Prakash Shah
& Associates for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 404 of 2023
Sushil Global Commodities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Ms. Rinku Valanju, Advocate i/b R. V. Legal for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 408 of 2023
Eureka Commodity Brokerage Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Ms. Mitravinda Chunduru, Advocate with Ms. Shonan Bangera, Advocate i/b. RHP Partners
for the Appellant.
4
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 414 of 2023
Greshma Commodities Pvt. Ltd. ... Appellant
Versus
Securities & Exchange Board of India ... Respondent
Ms. Aparna Wagle, Advocate with Ms. Siddhi Somani, Ms. Sonakshi Sahay, Advocates i/b
Alliance Law for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 421 of 2023
Way2Wealth Commodities Pvt. Ltd. ..... Appellant
Versus
Securities & Exchange Board of India ... Respondent
Ms. Shruti Rajan, Advocate with Mr. Anubhav Ghosh, Mr. Vivek S. Shah, Mr. Harishankar
Raghunath, Advocates i/b Trilegal for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 574 of 2023
And
Appeal No. 424 of 2023
Marwadi Commodity Broker Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Suresh Gupta, Advocate with Mr. Prithviraj Bhagat, Advocate for the Appellant.
5
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 621 of 2023
And
Misc. Application No. 777 of 2023
And
Appeal No. 426 of 2023
Purvag Commodities & Derivatives Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Chirag Shah, Advocate with Mr. Robin Shah, Advocate i/b Bodhi Legal for the
Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 439 of 2023
Saaketa Commodities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates
for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 775 of 2023
And
Appeal No. 445 of 2023
Prithvi Broking Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
6
Mr. Robin Shah, Advocate with Mr. Udaysingh Kashid, Advocate i/b Bodhi Legal for the
Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 667 of 2023
And
Appeal No. 468 of 2023
Hardik Multi-Com Broking Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Jitendra Sharda, Advocate for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 479 of 2023
JM Financial Commtrade Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Suresh Gupta, Advocate with Mr. Prithviraj Bhagat, Advocate for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 480 of 2023
SSJ Commodities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
7
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates
for the Appellant.
Mr. Abhishek Khare, Advocate with Ms. Anusya Raghavan, Advocate i/b Khare Legal
Chambers for the Respondent.
With
Appeal No. 502 of 2023
Joindre Commodities Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. A. P. Shukla, President & CEO for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arshaan Lentin, Ms. Shilpa
Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co. for the Respondent.
With
Misc. Application No. 662 of 2023
And
Misc. Application No. 663 of 2023
And
Appeal No. 503 of 2023
Fair Intermediate Products Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates
for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 760 of 2023
And
Appeal No. 504 of 2023
Sunidhi Commodities Pvt. Ltd. ..... Appellant
8
Versus
Securities and Exchange Board of India ... Respondent
Mr. Anil Shah, Advocate with Ms. Mamta Chaoji, Advocate i/b Juris Matrix Partners LLP
for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 692 of 2023
And
Appeal No. 505 of 2023
Nine Star Commodities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Advocate i/b Mindspright Legal for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 699 of 2023
And
Appeal No. 506 of 2023
Blue Crest Commodities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Advocate i/b Mindspright Legal for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 707 of 2023
And
9
Misc. Application No. 708 of 2023
And
Appeal No. 507 of 2023
Pragya Commodity Brokers Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates
for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 508 of 2023
Time Leverage Instruments Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Joby Mathew, Advocate i/b Joby Mathew & Associates for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 534 of 2023
SRD Commodities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Ms. Anjali Agrawal, Advocate with Mr. Rajendra Kumar Agrawal, FCA for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 535 of 2023
10
DAGA Commodities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates
for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Appeal No. 536 of 2023
Bharat Bhushan Finance & Commodity Brokers Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates
for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
With
Misc. Application No. 819 of 2023
And
Misc. Application No. 820 of 2023
And
Appeal No. 598 of 2023
Emkay Commotrade Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Prakash Shah, Advocate with Mr. Kushal Shah, CA i/b. Prakash Shah and Associates
for the Appellant.
Mr. Rafique Dada, Senior Advocate with Mr. Mihir Mody, Mr. Arnav Misra, Mr. Arshaan
Lentin, Ms. Shilpa Joshi, Mr. Harshvardhan Melanta, Advocates i/b. M/s. K. Ashar & Co.
for the Respondent.
11
ORDER :-
1. The respondent is filing reply in four appeals today which is taken on record. Reply in the remaining appeals may be filed within two weeks from today. Rejoinder to be filed within two weeks thereafter. All these matters would be listed for admission and for final disposal on September 27, 2023. Interim order, if any, is extended till the next date of listing.
2. 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 PRAMILA Digitally signed by Technical Member PRAMILA TANAJI 08.08.2023 TANAJI MISAL Date: 2023.08.08 PTM MISAL 17:23:27 +05'30'