Jayesh Kanungo vs Whole Time Member

Tarun Agarwala, Presiding Officer

The present appeal has been filed challenging the order dated 26th March, 2019 passed by the whole time member restraining the appellant from

accessing the securities market for a period of 2 years for violating Regulations 3 and 4 of the Securities and Exchange Board of India (Prohibition of

Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003.

There is a delay of 472 days in filing the appeal and accordingly an application for condonation of delay has been filed. For the reasons stated in the

application, cause shown is sufficient. The delay in filing the appeal is condoned. Misc. Application No.279 of 2020 is disposed of accordingly.

We find that the controversy involved in the present appeal is squarely covered by a decision of this Tribunal in Appeal no.104 of 2019 Shri Sagar

Dhanvant Jajal vs. SEBI dated 21st February, 2020 and in Appeal no.97 of 2019 Nishith M. Shah HUF vs. SEBI decided on 16th January, 2020 as

well as in Appeal no.194 of 2020 Shri Sagar Dhanvant Jajal vs. SEBI decided on 19th August, 2020.

In the light of the aforesaid, the impugned order cannot be sustained and is quashed. The appeal is allowed at the admission stage itself without

calling for a reply. In the circumstances of the case, parties shall bear their own costs.

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 digitally signed by the Presiding Officer 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.