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Securities Appellate Tribunal

Sharmila Raj Thackeray & Ors. vs Sebi on 24 September, 2021

Author: Tarun Agarwala

Bench: Tarun Agarwala

BEFORE THE SECURITIES APPELLATE TRIBUNAL
                 MUMBAI

                                  Date of Decision: 24.09.2021

              Misc. Application No. 25 of 2020
                             IN
                  Appeal No. 310 of 2016

1.

Sharmila Raj Thackeray Flat No. 1, 3rd Floor, Krishna Kunj, M B. Raut Road, 76, Shivaji Park Scheme, Dadar (West), Mumbai - 400 028.

2. Swati Sandesh Mayekar 218, Madhusheela, Bandra Band Stand, Bandra (West), Mumbai - 400 050.

3. Sandesh Madhukar Mayekar 218, Madhusheela, Bandra Band Stand, Bandra (West), Mumbai- 400 050.

4. Shivani Sandesh Mayekar 218, Madhusheela, Bandra Band Stand, Bandra (West), Mumbai - 400 050.

5. Sunetra Gangadher Limaye 169/D, Laxmi Niwas, Dr. Ambedkar Road, Dadar (East), Mumbai- 400 014.

6. Rajan Hemchandra Gupte Rajdeep, 143, Lt Dilip Gupte Road, Mahim - 400 016.

7. Arun Sadashiv Bhide A-3/6, Satya Darshan Society, Malpa Dongri Road No. 3, Andheri (East), Mumbai - 400 093.

8. Madhav Gangadhar Natu 20, Avishkar, 3 Mahant Road, Vile Parle (East), Mumbai 400 057.

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9. Shilpa Rajan Gupte Rajdeep, 143, Lt Dilip Gupte Road, Mahim - 400 016.

10. Vibha Ajit Vaze 8,9, Meghdoot, S. H. Paralkar Marg, Shivaji Park, Dadar (West), Mumbai - 400 028.

11. Ajit Mahadev Vaze 8, 9, Meghdoot, S. H. Paralkar Marg, Shivaji Park, Dadar (West), Mumbai - 400 028.

12. Vidya Vinayak Wagle D-202, Shiv Parvati Society, Chincholi Bunder Road, Malad (West), Mumbai- 400 064.

13. Felicila Lobo Genesis Villa, St. Francis Av., Santacruz (West), Mumbai 400 054.

14. Prodigy Finvest Pvt. Ltd. 169/A, Mayur Niwas, Dr. Ambedkar Road, Dadar (East), Mumbai - 400 014. ...Applicants Versus Securities & Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. ...Respondent Mr. Shyam Mehta, Senior Advocate with Mr. Mangesh Sawant, Advocate for the Applicants.

Mr. Kumar Desai, Advocate with Mr. Mihir Mody, Mr. Arnav Misra and Mr. Mayur Jaisingh, Advocates i/b. K. ashar & Co. for the Respondent.

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CORAM: Justice Tarun Agarwala, Presiding Officer Justice M. T. Joshi, Judicial Member Per: Justice Tarun Agarwala, Presiding Officer (Oral)

1. A Misc. Application has been filed for recall of our order dated October 24, 2016 passed in Appeal No. 310 of 2016. This application has been filed on December 19, 2019. There is a considerable delay in the filing of the appeal. The application is not accompanied by any application for condoning this inordinate delay. No reasons have been given as to why this application should be entertained in the absence of any explanation given for condoning this inordinate delay. Further, we find that by order dated October 24, 2016 the appellant had agreed to appear before the National Stock Exchange of India Ltd. (NSE) and NSE had agreed to reconsider its decision.

Based on this direction of this Tribunal it appears that the appellant appeared before NSE and thereafter the NSE passed the order dated February 03, 2017.

2. Thus, it does not lie in the mouth of the appellant to come back and urge for recalling the order dated October 24, 2016.

The application is patently misconceived and is rejected summarily.

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3. The present matter was heard through video conference due to Covid-19 pandemic. At this stage it is not possible to sign a copy of this order nor a certified copy of this order could be issued by the Registry. In these circumstances, 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. Parties will act on production of a digitally signed copy sent by fax and/or email.

Justice Tarun Agarwala Presiding Officer Justice M. T. Joshi RAJALA Digitally signed Judicial Member 24.09.2021 by RAJALAKSHMI KSHMI HDate:

NAIR PK 2021.09.27 H NAIR 12:28:09 +05'30'