BEFORE THE

SECURITIES APPELLATE TRIBUNAL

MUMBAI
Misc. Application No. 194 of 2015
And
Appeal No. 287 of 2015
Date of Decision : 29.06.2015

Umashankar V. Agarwal
125 P.J. Towers,
First Floor, Dalal Street,
Mumbai 400 023.

Appellant

Versus
Securities and Exchange Board of India
SEBI Bhavan, Plot No. C-4A, G Block,
Bandra Kurla Complex, Bandra (East),
Mumbai - 400 051.

Respondent

Dr. S.K. Jain, Practicing Company Secretary for the Appellant.

Mr. Tomu Fracis, Advocate for the Respondent.

CORAM : Justice J.P. Devadhar, Presiding Officer

Jog Singh, Member
Per : J.P. Devadhar (Oral)

Misc. Application No. 194 of 2015:By this Miscellaneous Application appellant seeks condonation of
delay of 1610 days in filing the appeal against the impugned order dated
December 23, 2010. It is the case of the appellant that the impugned order
is an ex parte order passed without serving a copy of the show cause notice /
impugned order on the appellant. In these circumstances and in view of the
statement made by the counsel for SEBI in the appeal, we deem it proper to
condone the delay.
Misc. Application is disposed of accordingly with no order as to
costs.

Appeal No. 287 of 2015:-

1.

Appellant is aggrieved by the Adjudication order dated December 23,

2010. Grievance of the appellant is that neither the show cause notice nor
the impugned order dated December 23, 2010 was served upon the
appellant. Counsel for the SEBI on instruction states that if during the
course of the day the appellant furnishes the residential address along with
PAN to SEBI, then this Tribunal may set aside the impugned ex parte order
and restore the matter to the file of adjudicating officer for passing fresh
order on merits and in accordance with law. Counsel for the appellant agrees
and undertakes to furnish the residential address and PAN of the appellant
during the course of the day. The statement is accepted.

2.

Accordingly, subject to the appellant furnishing residential address

and PAN of the appellant during the course of the day the impugned order
dated December 23, 2010 is set aside and the matter is restored to the file of
the adjudicating officer for passing fresh order on merits and in accordance
with law.

3.

Appeal is disposed of in the above terms with no order as to costs.

Sd/Justice J.P. Devadhar

Presiding Officer

Sd/Jog Singh
Member

29.06.2015
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