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Viswapriya Financial Services & Securities Ltd. versus Securities & Exchange Board of India

    Review No. 82/2004 in Appeal No. 118/2002 & Review No. 83/2004 in Appeal No.13/2003

    Decided On, 23 August 2004

    At, SEBI Securities Exchange Board of India Securities Appellate Tribunal

    By, CORAM: JUSTICE KUMAR RAJARATNAM
    By, PRESIDING OFFICER
    By, DR. B. SAMAL
    By, MEMBER
    By, N.L. LAKHANPAL
    By, MEMBER

    Appellant – Represented by Mr. Subramanian, Director. Respondent – Represented by Mr. Kumar Desai, Advocate



Judgment Text

Per: Justice Kumar Rajaratnam, Presiding Officer


1. The review petition is taken up with consent of parties.


2. The matter relates to an undertaking given both by the appellant and his counsel stating that they undertake not to access the capital market or deal in securities up to 24.11.2007. The appellant has filed an affidavit dated 14.7.2004 stating that he will not access the capital market up to 24.11.2007. In view of the affidavit the appellant sought leave of the Court to withdraw the appeal. This Tribunal also requested the respondent not to consider the impugned order as casting a stigma on the appellant in view of the fact that the appellant did not argue on merits. It is in these circumstances the appeals were dismissed by the Tribunal on 8.7.2004.


3. The appellant now seeks review of the order by stating that the Tribunal had orally stated at the time of dictation that the impugned order shall stand revived if the appellant does not file the affidavit within seven days. It is common ground that the appellant has filed the affidavit within seven days. In these circumstances, t

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here is no scope to review the matter. 4. The review petition stands dismissed. No order as to costs.
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