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Tribunals and CommissionsFull Bench(2022) 07 SEBI CK 0032

T. Venkattram Reddy And Anr vs Securities And Exchange Board Of India

Securities Appellate Tribunal Mumbai · Decided on 20 July 2022

HON’BLE JUDGES
Tarun Agarwala Presiding Officer · M. T. Joshi, J · Meera Swarup, Member
CASE NUMBER
Miscellaneous Application No. 539 Of 2022, Appeal No. 395 Of 2022
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Judgment

4 paragraphs · 180 words
1.

There is a delay in the filing of the appeal. For the reasons stated in the application, the delay in the filing of the appeal is condoned. The application is allowed.

2.

The ground urged by the appellant is that a copy of the investigation report or the relevant paragraphs has not been provided to the appellant. Further, the show cause notice was issued after 5 years and there is an inordinate delay in the filing of the appeal. In addition to the aforesaid, the hearing of the matter took place on 4th November, 2020 and the order was delivered after 18 months and lastly finding of fraud is based on preponderance of probability.

3.

Let a reply be filed by the respondent within two weeks. List on 5th August, 2022.

4.

This order will be digitally 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. Certified copy of this order is also available from the Registry on payment of usual charges.