Tribunals and CommissionsFull Bench(2020) 02 SEBI CK 0006

Pradip Shah vs Securities & Exchange Board Of India

Securities Appellate Tribunal Mumbai · Decided on 24 February 2020

HON’BLE JUDGES
Tarun Agarwala, Presiding Officer · Dr. C. K. G. Nair, Member · M. T. Joshi, J
RESULT
Allowed
CASE NUMBER
Miscellaneous Application No. 63 Of 2020, Appeal No. 61 Of 2020

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Judgment

12 paragraphs · 182 words

Tarun Agarwala, Presiding Officer

Misc. Application No. 63 of 2020 :

1.

There is a delay of 18 days in filing the appeal. For the reasons stated in the application, delay is condoned. Misc. Application is accordingly

disposed of.

Appeal No. 61 of 2020 :

1.

Against an order dated November 18, 2019 passed by the Whole Time Member (hereinafter referred to as ‘WTM’) debarring the appellant

for a period of five years, the present appeal has been filed.

2.

The only contention raised by the appellant is that the period of debarment of five years had started with effect from May 8, 2015. The appellant

has already undergone its debarment for four years and 10 months and, therefore, has prayed that he may be allowed some concession for the

remaining period.

3.

Without going to the merit of the case and considering the plea raised by the learned counsel for the appellant, we dispose of the appeal reducing

the restraint order from five years which started from the date of the interim order dated May 8, 2015 to February 29, 2020.