Securities Appellate Tribunal
Srbc & Co. Llp vs Sebi on 19 October, 2022
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date : 19.10.2022
Misc. Application No. 1018 of 2022
And
Appeal No. 700 of 2022
SRBC & Co. LLP ....Appellant
Versus
Securities & Exchange Board of India ... Respondent
Mr. Pesi N. Modi, Senior Advocate with Ms. Kalpana Desai,
Mr. Sagar Divekar, Mr. Abhimanyu Mhapankar, Advocates for the
Appellant.
Mr. Gaurav Joshi, Senior Advocate with Mr. Nishit Dhruva, Mr.
Ravishekhar Pandey, Ms. Shefali Shankar, Advocates i/b. MDP &
Partners for Respondent.
ORDER :
1. There is a delay in the filing of the appeal. For the reasons stated in the application, the delay is condoned. Misc. application is allowed.
2. The charge against the appellant who is the joint statutory auditor of the company is that they have communicated the insider 2 information to the third party in violation of Regulation 3(1) of the PIT Regulations in spite of giving a clear finding that the information imparted was done by mistake.
3. Let a reply be filed by the respondent within three weeks from today. Rejoinder may be filed within three weeks thereafter. List for admission and for final disposal on December 20, 2022.
4. Considering the facts and circumstances that have been brought on record, we stay the effect and operation of the impugned order as it relates to the appellant.
5. 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 SHMI 19.10.2022 by RAJALAKSHMI HARISH NAIR HARISH Date: 2022.10.28 14:02:04 +05'30' PTM NAIR