Abhinav Garg Huf vs Sebi on 17 November, 2022

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Securities Appellate Tribunal

Abhinav Garg Huf vs Sebi on 17 November, 2022

Bench: Tarun Agarwala

BEFORE THE      SECURITIES APPELLATE TRIBUNAL
                          MUMBAI

                                Date of Decision : 17.11.2022

               Misc. Application No. 1407 of 2022
                              And
               Misc. Application No. 1406 of 2022
                              And
                     Appeal No. 885 of 2022

     Abhinav Garg HUF
     Ak 113 Salt Lake,
     Kolkata - 700 091.                                .....Appellant
     Versus

     Securities and Exchange Board of India
     SEBI Bhavan, Plot No. C-4A, G-Block,
     Bandra-Kurla Complex, Bandra (East),
     Mumbai - 400 051.                              ... Respondent


     Ms. Anjali Agrawal, Advocate for the Appellant.

     Mr. Abhiraj Arora, Advocate and Shourya Tanay, Advocate
     i/b ELP for the Respondent.


     CORAM : Justice Tarun Agarwala, Presiding Officer
             Ms. Meera Swarup, Technical Member

     Per : Justice Tarun Agarwala, Presiding Officer (Oral)


     1.

There is a delay in the filing of the appeal. For the reasons stated in the application the delay is condoned. The Application is allowed.

2. We have heard Ms. Anjali Agrawal for the appellant. We find that the impugned order was passed by the 2 Adjudicating Officer ('AO' for short) of the Securities and Exchange Board of India ('SEBI' for short) on January 25, 2022 based on which the penalty amount was paid without any protest on April 5, 2022. The SEBI Settlement Scheme 2022 came into force from August 22, 2022 based on which the present appeal has been filed on November 7, 2022.

3. In our view the appeal of the appellant will not be covered by the Settlement Scheme and consequently no relief can be granted to the appellant. The appeal is dismissed. Miscellaneous application is disposed of.

4. 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 RAJALAK Digitally signed Technical Member by SHMI RAJALAKSHMI 17.11.2022 HARISH HARISH NAIR Date: 2022.11.24 msb NAIR 10:33:55 +05'30'

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