2021 (11) TMI 1219 - AT - SEBI

Legal Challenge Dismissed as Counsel Fails to Prosecute Case, Repeated Adjournment Requests Rejected Under Strict Procedural Guidelines

Sanket Investments and Marketing Limited, Mr. Prashanta Kumar Dash and Mr. Pravat Kumar Dash Versus Securities and Exchange Board of India

SC dismissed the appeal for 'want of prosecution' after repeated adjournment requests by appellant's counsel. Despite pandemic-related video conference ... Dismissal of appeal for want of prosecution due to the appellant's counsel repeatedly seeking adjournments - HELD THAT:- We had directed that the matter should be taken peremptorily today as the counsel was seeking unnecessary adjournments. Today again a request has been made for an adjournment. The request is rejected. The learned counsel for the appellant does not want to argue the matter today. In view of the aforesaid, the appeal is dismissed for want of prosecution. 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 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. The Securities Appellate Tribunal (SAT) Mumbai, presided over by Justice Tarun Agarwala, dismissed the appeal for 'want of prosecution' due to the appellant's counsel repeatedly seeking adjournments and ultimately refusing to argue the matter. The Tribunal emphasized the peremptory hearing schedule and rejected the latest adjournment request. Owing to the Covid-19 pandemic, the order was issued via video conference and digitally signed by the Private Secretary on behalf of the bench, with parties directed to act on the digitally signed copy transmitted electronically.