Securities Appellate Tribunal
Jayshree Kishor Dholakia And Anr. vs Sebi on 30 January, 2018
BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision: 30/01/2018 Misc. Application No.176 of 2017 And Appeal No.124 of 2017 1. Jayshree Kishor Dholakia 3452/2, Shahpur Chakala, Mangala Parekhas Khancho, Ahmedabad - 380 001. 2. Kishor Kumar Dholakia 3452/2, Shahpur Chakala, Mangala Parekhas Khancho, Ahmedabad - 380 001. ... Appellants Versus Securities and Exchange Board of India SEBI Bhavan, Plot No.C4-A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051. ... Respondent Ms. Parinati Jain, PCS a/w Ms. Komal Chokhani, PCS i/b Amit R. Dadheech & Associates for the Appellant. Mr. Pulkit Sukhramani a/w Ms. Vidhi Jhawar, Advocates i/b The Law Point 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)
MISC. APPLICATION NO.176 OF 2017:
1. There is delay of 121 days in filing this appeal. For the reasons stated
in Misc. Application No.176 of 2017 the delay is condoned. The Misc.
Application is disposed of accordingly.
APPEAL NO.124 OF 2017:
2. 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 1st June, 2016 and also the confirmatory
order passed on 10th October, 2016.
3. Counsel for SEBI, on instruction, states that SEBI would complete the
investigation by 31st March, 2018.
4. In these circumstances, we dispose of the appeal by directing SEBI to
complete the investigation and to issue show-cause notice, if deemed fit, on or
before 31st March, 2018 and thereafter pass appropriate order on the said
show-cause notice, if any issued, after giving an opportunity of hearing to the
appellant as expeditiously as possible.
5. Appeal is disposed of in the aforesaid terms with no order as to costs.
Justice J.P. Devadhar
Dr. C.K.G. Nair
prepared & compared by-dg