Ramesh Chandra Gupta vs Securities And Exchange Board Of India And Others

Tarun Agarwala, Presiding Officer

The appellant has filed the present appeal against the communication dated August 01, 2019 issued by Securities and Exchange Board of India (“SEBI” for convenience) whereby the appellant was informed that his complaint was closed on the SCORES platform on March 20, 2018.

It transpires that the appellant made a complaint on September 04, 2017 which was forwarded by SEBI to National Stock Exchange of India Limited (“NSE” for convenience). Action Taken Report was made on October 06, 2017 wherein the appellant was informed that the claim was rejected since certified Manual Ledger from a Chartered Accountant was not submitted inspite of reminders and accordingly the complaint was closed on March 20, 2018. This fact was in the knowledge of the appellant as is clear from paragraph 5.28 of the memorandum of appeal. We find that thereafter nothing was done by the appellant and on February 05, 2019 a certified copy of the Manual Ledger was sent which was not accepted by NSE as the complaint was closed as far back as on March 20, 2018. Against this communication dated August 01, 2019, the present appeal has been filed.

Having heard the learned counsel for the appellant, we find that there is an inordinate delay in filing the present appeal. Merely by making a fresh application on February 05, 2019 will not extend the period of limitation. Dismissed on the ground of laches.