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Securities Appellate Tribunal

In The Matter Of A.L.No. 290 Of 2018 - ... vs Sebi on 6 September, 2021

Author: Tarun Agarwala

Bench: Tarun Agarwala

BEFORE THE SECURITIES APPELLATE TRIBUNAL
                 MUMBAI

                                Date of Decision: 06.09.2021


             Misc. Application No. 603 of 2020
                            In
             Appeal Lodging No. 284 of 2018

Blue Print Securities Ltd.
1, Croocked Lane, R.No. 109,                     ...Applicant/
1st Floor, Kolkata - 700 069.                     Appellant

Versus

1.

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 604 of 2020 In Appeal Lodging No. 287 of 2018 Makesworth Project & Developers Pvt. Ltd. B-10/4, Karunamoyee Housing Estate, Salt Lake City, ...Applicant/ Kolkata - 700 091, West Bengal. Appellant Versus 2

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, ...Respondents Himachal Pradesh - 174 101.

WITH Misc. Application No. 605 of 2020 In Appeal Lodging No. 286 of 2018 Mangalmayee Hirise Pvt. Ltd. 1A, Grant Lane, Room No. 114, ...Applicant/ Kolkata - 700 012. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents 3 WITH Misc. Application No. 606 of 2020 In Appeal Lodging No. 282 of 2018 Sharadaraj Tradefin Ltd. 1, Croocked Lane, 1st Floor, Room No. 109, ...Applicant/ Kolkata - 700 069. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 607 of 2020 In Appeal Lodging No. 281 of 2018 Konark Commerce & Industries Ltd. 6 & 6/3, Shashi Shekhar Bose Road, ...Applicant/ Kolkata - 700 025. Appellant Versus

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

4

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 608 of 2020 In Appeal Lodging No. 285 of 2018 Sunshine Housecon Ltd.

1, Croocked Lane, R.No. 109, ...Applicant/ 1st Floor, Kolkata - 700 069. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 609 of 2020 In Appeal Lodging No. 283 of 2018 Suryamukhi Projects Pvt. Ltd. 1A, Grant Lane, ...Applicant/ Kolkata - 700 012. Appellant 5 Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 610 of 2020 In Appeal Lodging No. 292 of 2018 Alishan Estates Pvt. Ltd. 212, Martin Burn, 2nd Floor, 1, R.N. Mukherjee Road, ...Applicant/ Kolkata - 700 001. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, ...Respondents Himachal Pradesh - 174 101.

6

WITH Misc. Application No. 611 of 2020 In Appeal Lodging No. 294 of 2018 Pulak Bagchi Sagarika Apptt, Block-AB-3, 15, Old G.T. Road, Bally, ...Applicant/ Howrah - 711 201. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 612 of 2020 In Appeal Lodging No. 293 of 2018 Neelkamal Dealcom Pvt. Ltd. 10A, Hospital Street, Room No. 205, ...Applicant/ 2nd Floor, Kolkata - 700 072, West Bengal. Appellant Versus

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

7

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 613 of 2020 In Appeal Lodging No. 291 of 2018 Pushpanjali Hirise Pvt. Ltd. 1A, Grant Lane, Room No. 114, ...Applicant/ Kolkata - 700 012. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101.

...Respondents WITH Misc. Application No. 614 of 2020 In Appeal Lodging No. 289 of 2018 Growfast Realtors Pvt. Ltd. 58, N.N. Road, Hind Colony, Basu Villa, 1st Floor, ...Applicant/ Kolkata - 700 028. Appellant 8 Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 615 of 2020 In Appeal Lodging No. 288 of 2018 Shirdhan Jewellery Pvt. Ltd. 1A, Grant Lane, ...Applicant/ Kolkata - 700 012, West Bengal. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents 9 WITH Misc. Application No. 616 of 2020 In Appeal Lodging No. 290 of 2018 Silicon Hotel Pvt. Ltd.

House No. 44, Ward No. 40, Kotra Road, ...Applicant/ Hirapur Raigarh - 496 001, Chattisgarh. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 617 of 2020 In Appeal Lodging No. 298 of 2018 Ajay Kumar Agarwal 6 & 6/3, Shashi Shekhar Bose Road, ...Applicant/ Kolkata - 700 025. Appellant Versus

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

10

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 618 of 2020 In Appeal Lodging No. 295 of 2018 Neeraj Kedia, 12, Pementile Street, ...Applicant/ Kolkata - 700 016. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 619 of 2020 In Appeal Lodging No. 299 of 2018 Raj Narain Pandey 87, Shri Krishna Nagar, ...Applicant/ Shrirampur, Hooghly - 712 205. Appellant 11 Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 620 of 2020 In Appeal Lodging No. 297 of 2018 Bajrang Kumar Sultania 1, Croocked Lane, Room No. 109, ...Applicant/ Kolkata - 700 069. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents 12 WITH Misc. Application No. 621 of 2020 In Appeal Lodging No. 300 of 2018 Umesh Singh 10/1, Alipore Park Place, ...Applicant/ Kolkata - 700 027. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents WITH Misc. Application No. 622 of 2020 In Appeal Lodging No. 107 of 2019 Khushboo Complex Private Limited 39, Shakespeare Sarani, ...Applicant/ Kolkata - 700 017. Appellant Versus

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

13

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents AND Misc. Application No. 994 of 2021 In Appeal Lodging No. 296 of 2018 Pramod Ramdin Sharma AB-40, Prafulla Kanan (W), ...Applicant/ Krishnapur, Kolkata - 700 059. Appellant Versus

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

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

3. Brooks Laboratories Limited Village Kishanpura, Nalagarh Road, Buddi Nalagarh, Himachal Pradesh - 174 101. ...Respondents Mr. Deepak Dhane, Advocate i/b Corporate Pleaders for the Applicants/Appellants.

Mr. Mihir Mody, Advocate with Mr. Arnav Misra and Mr. Mayur Jaisingh, Advocates i/b K. Ashar & Co. for Respondent No. 1 SEBI.

14

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

1. These 21 applications have been filed for recall of our order dated April 05, 2019 and October 04, 2019 and for restoration of the appeals.

2. The facts leading to the filing of the present applications is, that the impugned order was passed by the Adjudicating Officer ("AO" for convenience) of the Securities and Exchange Board of India ("SEBI" for convenience) on August 16, 2017 against which the appellants filed various appeals. At the stage when the appeals were being heard this Tribunal by an order dated March 05, 2018 permitted the appellants to withdraw the appeals on payment of costs of Rs. 25,000/- to be paid by each appellant and further decided that the fresh appeals should be filed within three weeks. The said appeals were filed afresh but not within the prescribed period but belatedly. Those appeals were dismissed for want of prosecution by an order of April 05, 2019. Thereafter a Misc. Application was filed for recall of the order of April 05, 2019 which application was again dismissed for want of prosecution on October 04, 2019. A certified copy 15 of the order of this Tribunal was sent by our Registry to the appellants and was received by them on December 09, 2019.

3. No steps whatsoever have been taken by the appellants for recall of the order and eventually after more than a year a third application for recall of the order was filed on October 30, 2020 which application is now before us.

4. Having heard the learned counsel for the appellants, we find that a very casual approach has been made by the appellants in pursuing the matter. The contention that they were not aware of the dismissal of their appeals for want of prosecution cannot be believed and it appears to be an afterthought especially when there is no denial of the fact that the certified copy of the order sent by the Registry was duly received by them on December 09, 2019. Thus, there has been an inordinate delay in the filing of the present application. We further find that the cause shown is insufficient which are neither legal nor sound in nature. We do not find any valid reason to recall our order dated April 05, 2019 and October 04, 2019. The restoration applications fails and are rejected summarily.

16

5. The present matters were 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 Judicial Member 06.09.2021 RAJALA Digitally signed by RAJALAKSHMI PK KSHMI HDate:

NAIR 2021.09.09 H NAIR 11:04:03 +05'30'