Dilwar Hossain vs Securities & Exchange Board Of India And Others

Tarun Agarwala, Presiding Officer

The appellant has filed the present appeal praying for setting aside the final order of the Whole Time Member (hereinafter referred to as

‘WTM’) of Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) dated October 21, 2015 as well as the order

dated January 21, 2019 passed by the Manager Enforcement Department SEBI. The appeal was preferred on March 28, 2019. Since there was a

delay in filing the appeal, Misc. Application has been filed for condoning the delay. In this application, it is contended that there is a delay of only 21

days in filing the appeal and this short delay may be condoned.

We find that the delay has been calculated from the date of the letter / communication dated January 21, 2019 sent by the Enforcement

Department. We are of the opinion that since the final order dated October 21, 2015 has been challenged, the limitation will start from that date and

not from 2019. No explanation has been given as to why appeal could not be filed earlier against the final order of the WTM dated October 21, 2015.

In the absence of any explanation, we are of the view that this inordinate delay in challenging the final order which has not been annexed in the appeal

cannot be permitted.

The application for condonation of delay is thus patently misconceived and the delay cannot be condoned. The Misc. Application is rejected. In so

far as the order dated January 21, 2019 is concerned, it is only a communication by the Enforcement Department to the appellant indicating that the

order of the WTM has attained finality and, therefore, his name cannot be removed / expunged from the said order. There is no error in the

communication sent by the Enforcement Department.

The appeal is accordingly dismissed with no order as to costs.