w w w . L a w y e r S e r v i c e s . i n



Prateek Kumar v/s Securities & Exchange Board of India


Company & Directors' Information:- N D A SECURITIES LIMITED [Active] CIN = L74899DL1992PLC050366

Company & Directors' Information:- A TO Z SECURITIES LIMITED [Active] CIN = U74899DL1994PLC063412

Company & Directors' Information:- S S SECURITIES LIMITED [Strike Off] CIN = U67120GJ1994PLC023477

Company & Directors' Information:- K R SECURITIES PRIVATE LIMITED [Active] CIN = U74899DL1994PTC059298

Company & Directors' Information:- D U SECURITIES PRIVATE LIMITED [Strike Off] CIN = U74899DL1994PTC060800

Company & Directors' Information:- J B S SECURITIES PVT LTD [Active] CIN = U67120GJ1995PTC026550

Company & Directors' Information:- L F C SECURITIES PRIVATE LIMITED [Active] CIN = U67120MH2004PTC149792

Company & Directors' Information:- A G SECURITIES PRIVATE LIMITED [Strike Off] CIN = U65921DL1993PTC052453

Company & Directors' Information:- I M SECURITIES PRIVATE LIMITED [Active] CIN = U67120DL1996PTC077356

Company & Directors' Information:- K L G SECURITIES LIMITED [Active] CIN = U74899DL1993PLC052974

Company & Directors' Information:- K L B SECURITIES PVT LTD [Active] CIN = U67120GJ1995PTC024411

Company & Directors' Information:- R K G SECURITIES LIMITED [Active] CIN = U74899DL1993PLC055457

Company & Directors' Information:- S S G SECURITIES PRIVATE LIMITED [Under Process of Striking Off] CIN = U67120KL1995PTC009473

Company & Directors' Information:- M M SECURITIES LIMITED [Under Process of Striking Off] CIN = U74920BR1995PLC006716

Company & Directors' Information:- A P S SECURITIES LIMITED [Active] CIN = U74899DL1995PLC065809

Company & Directors' Information:- S K B SECURITIES LIMITED [Active] CIN = U65999WB1996PLC082316

Company & Directors' Information:- J AND J SECURITIES PRIVATE LIMITED [Strike Off] CIN = U67120KL1998PTC012015

Company & Directors' Information:- A B SECURITIES PVT LIMITED [Active] CIN = U67120AS1997PTC005177

Company & Directors' Information:- N R. SECURITIES LTD [Strike Off] CIN = U67120CH1995PLC015991

Company & Directors' Information:- N K K SECURITIES PRIVATE LIMITED [Converted to LLP and Dissolved] CIN = U74899DL1994PTC061405

Company & Directors' Information:- P N G SECURITIES PRIVATE LIMITED [Strike Off] CIN = U67120MH1995PTC086195

Company & Directors' Information:- J M L SECURITIES LIMITED [Strike Off] CIN = U67110UP2000PLC025628

Company & Directors' Information:- A P SECURITIES PRIVATE LIMITED [Active] CIN = U74899DL1995PTC065651

Company & Directors' Information:- U F SECURITIES PRIVATE LIMITED [Strike Off] CIN = U74899DL2000PTC103729

Company & Directors' Information:- C S SECURITIES PRIVATE LIMITED [Strike Off] CIN = U67120KL1998PTC012664

Company & Directors' Information:- U B G SECURITIES PRIVATE LIMITED [Strike Off] CIN = U67120KL2011PTC028571

Company & Directors' Information:- M N K SECURITIES PRIVATE LIMITED [Active] CIN = U67120MH2001PTC133711

Company & Directors' Information:- S V SECURITIES PRIVATE LIMITED [Strike Off] CIN = U65993DL1993PTC051885

Company & Directors' Information:- G D L SECURITIES LIMITED [Strike Off] CIN = U74899DL1995PLC070979

Company & Directors' Information:- B. K .SECURITIES PRIVATE LIMITED [Strike Off] CIN = U67120TN2007PTC065324

    Appeal No. 517 of 2021

    Decided On, 10 November 2021

    At, SEBI Securities amp Exchange Board of India Securities Appellate Tribunal

    By, THE HONOURABLE MR. JUSTICE TARUN AGARWALA
    By, PRESIDING OFFICER & THE HONOURABLE MR. JUSTICE M.T. JOSHI
    By, JUDICIAL MEMBER

    For the Appellant: V.M. Singh, Aditya Bhansali, Suyash Bhandari, Nirali Sunil Mehta, PCS i/b Mindspright Legal, Advocates. For the Respondent: Pradeep Sancheti, Senior Advocate, Mihir Mody, Arnav Misra, Mayur Jaisingh, i/b K. Ashar & Co., Advocates.



Judgment Text

1. The appellant has challenged the order / notice dated June 10, 2021 issued by the Adjudicating Officer (‘AO’ for short) of SEBI fixing a date for hearing in the matter and denying the rights to the appellant for examination / supply of certain documents and cross-examination of witnesses. On our query as to whether the appeal is maintainable in view of the decision of the Supreme Court dated October 6, 2021 passed in the matter of PACL Limited we find that the Supreme Court in exercise of its powers under Article 142 had constituted a Committee headed by Hon’ble Justice (Retd.) R.M. Lodha to look into all disputes related to PACL Limited. The order also indicates that aggrieved parties may file their objections before a former District Judge Mr. R.S. Virk who in turn will submit a report to the Supreme Court and accordingly the aggrieved person will have a remedy before the Hon’ble Supreme Court.

2. The question before us is, if the Hon’ble Supreme Court has directed the Committee headed by Hon’ble Justice (Retd.) R.M. Lodha to decide all matters relating to PACL Limited then is it open to the AO of SEBI to initiate proceedings in relation to matter connected directly or indirectly to PACL Limited. The limited reply filed by the respondent does not indicate with clarity as to whether any specific directions were issued by the Justice (Retd.) R.M. Lodha Committee directing the AO to initiate proceedings. Consequently, we adjourn the proceedings and direct the respondent to file a better reply within two weeks from today. List on December 9, 2021.

3. Parties are directed to take instructions from the Registrar 48 hours before the date fixed in order to find out as to whether the matter would be taken up for hearing through video conference or through physical hearing.

4. The present matter was heard through video conference due to Covid-19 pandemic. At this stage it is not possible to sign a copy of this order nor a certified copy of this order could be issued by the registry. In these circumstances, this order will be digit

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ally 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. Parties will act on production of a digitally signed copy sent by fax and/or email.
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