BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI
Date : 05/01/2017 Appeal No.445 of 2016
Capital Via Global Research Limited
903, D-1, 9 th Floor, N.R.K. Business Park,
Scheme No.54, PU-4, Vijay Nagar,
Indore – 452 010.
Through authorized representative &
Director Mr. Rohit Gadia. … Appellant
Versus
Securities and Exchange Board of India
SEBI Bhavan, Plot No.C4-A,
G-Block, Bandra-Kurla Complex,
Bandra (East),
Mumbai – 400 051. … Respondent
Mr. Abhinav Chandrachud, Advocate i/b Mr. Vedchetan Patil, Advocate for the Appellant.
Mr. Rajesh Nagory a/w Mr. Yogesh Chawale and Mr. Nihar Thackeray, Advocates i/b Legasis Partners for the Respondent.
CORAM : Justice J.P. Devadhar, Presiding Officer Jog Singh, Member Dr. C.K.G. Nair, Member
Per : Justice J.P. Devadhar (Oral)
1.This appeal is filed to challenge the ex-parte ad-interim order passed by the Whole Time Member (“WTM” for short) of Securities and Exchange Board of India (“SEBI” for short) on 11 th November, 2016. By the said order, the appellant has been, inter alia, restrained from soliciting or undertaking any fresh advisory business from that date till further directions. By the said order, the appellant was also called upon to file reply within 21 days from the date of receipt of the order and indicate whether the appellant wants personal hearing in the matter.
2.It is not in dispute that the appellant had filed interim reply on 18/11/2016 and filed detailed reply on 12/12/2016.
3.Counsel for SEBI states that the detailed reply dated 12/12/2016 was received by SEBI on 22/12/2016 and accordingly personal hearing has been fixed on 16/1/2017.
4.In these circumstances, since hearing is fixed on 16 th January, 2017, without going into the merits of the case, we direct WTM of SEBI to hear the appellant on 16 th January, 2017 and pass an order by 20 th
January, 2017 and communicate the same to the appellant on 20th January, 2017 itself.
5. Appeal is disposed of in the aforesaid terms with no order as to costs.
Sd/-
Justice J.P. Devadhar Presiding Officer
Sd/-
Jog Singh
Member
Sd/- Dr. C.K.G. Nair Member
05/01/2017
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