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Judgment
Tarun Agarwala, Presiding Officer
We have heard the learned counsel for the parties. The present appeal has been filed challenging the communication dated December 21, 2022 whereby the settlement application filed under Chapter-II of the SEBI (Settlement Proceedings) Regulations, 2018 was rejected.
In our view the appeal is not maintainable in view of Section 15JB(4) which reads as under:-
“15JB (4) No appeal shall lie under section 15T against any order passed by the Board or adjudicating officer, as the case may be, under this section.”
A full bench of this Tribunal in Reliance Industries Limited vs Securities and exchange Board of India (Appeal no. 1 of 2023 decided on June 20, 2014) dealt with the provisions of Section 15JB and held that no appeal lies against the rejection order under the settlement proceedings.
In view of the aforesaid decision, the appeal is not maintainable and is dismissed as such. The miscellaneous application is disposed of.
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.