Sangita P Shah vs Securities And Exchange Board Of India

Tarun Agarwala, Presiding Officer

There is a delay in the filing of the appeal. For the reasons stated in the application, the delay is condoned. The application is allowed.

We have perused the record. We find that the impugned order was passed on January 31, 2022 and since the penalty amount was paid under protest on March 10, 2022 the appellant is entitled for the benefit of the settlement scheme covered by the SEBI Settlement Scheme 2022 which has been issued in terms of the Regulation 26 of Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018.

In view of the aforesaid, we dispose of the appeal directing the appellant to file an appropriate application for settlement before the authority concerned within two weeks from today. If the same is filed, the authority will accept the settlement application in terms of SEBI Settlement Scheme 2022 as an application filed in a pending proceeding and pass appropriate orders. The appeal is disposed of. Even though, it is stated that the Settlement Scheme was closed on January 21, 2023, nonetheless, respondent will consider the application under the relevant scheme.

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.