BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date of Decision: 4.4.2019
Misc. Application No.103 of 2017
And
Appeal No.90 of 2017
Thapar Exports Limited
Dhandari Khurd, Focal Point, Phase-VII,
Ludhiana (Punjab) 141010
…. Appellant
Versus
Securities and Exchange Board of India
SEBI Bhawan, Plot No.C-4A,
G Block, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051.

… Respondent
Mr. Rakesh Puri, Advocate i/b. Mr. Devanshu Desai, for the
Appellant.
Mr. Aditya Chitale, Advocate with Mr. Anubhav Ghosh and
Ms. Vidhi Jhawar, Advocates i/b. The Law Point for the
Respondent.
CORAM: Justice Tarun Agarwala, Presiding Officer
Dr. C.K.G. Nair, Member
Justice M.T. Joshi, Judicial Member
Per : Justice Tarun Agarwala (Oral)
Misc. Application No.103 of 2017
There is a delay of 12 days in filing this appeal. Cause
shown is sufficient.

The delay in filing the appeal is
condoned. The application is allowed.

2
Appeal No.90 of 2017
1.

The controversy involved in the present appeal is
squarely covered by a decision of this Court in Appeal no.89
of 2017.
2.

For the reasons stated therein and circumstances of the
present case, we reduce the penalty from Rs.15 lakh to
Rs.5 lakh. The appeal is partly allowed.
Sd/Justice Tarun Agarwala
Presiding Officer
Sd/Dr. C. K. G. Nair
Member
Sd/Justice M.T. Joshi
Judicial Member
4.4.2019
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