2019 (11) TMI 1558

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....t filed by the appellant the present appeal is preferred. 2. The appellant's case in short is as under:- That one Brescon Advisory Ltd. has acquired 1500 shares of Eicher Motor Limited (hereinafter referred to as 'Eicher') on 8th December, 1995. Later on Brescon Advisory Ltd. was changed to Brescon Consultants Private Limited. Later on however it was amalgamated with the present appellant in the year 2016 vide the order of the Bombay High Court dated 26th February, 2016. Thus, the appellant became the holder of the 1500 shares of Eicher. In January, 2016 the appellant found that shares were misplaced and, therefore, it made enquiry with Registrar and Transfer Agent of Eicher i.e. Link Intime Pvt. Ltd. (hereinafter called a....

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....of this fact the appellant registered a complaint (hereinafter referred to as 'first complaint') on the SCORES platform on 29th November, 2016. After much persuasion, respondent SEBI on 31st May, 2016 reported to the appellant that the said complaint has been closed. The reason that was forwarded by SEBI was that the orders in the cases of Manoj D. Shah and Another and Ms. Adesh Kaur passed by SEBI were challenged before this Tribunal. Vide order dated 7th February, 2017 the orders were set aside and SEBI was directed to pass fresh order. Thereupon Ms. Adesh has approached National Company Law Tribunal, New Delhi (hereinafter referred to as 'NCLT') by filing complaint for rectification of the register of company. NCLT had di....

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..... Vinay Chauhan, learned counsel for the appellant and Mr. Pradeep Sancheti, learned Senior counsel for the respondent. 7. Mr. Vinay Chauhan, the learned counsel submitted that the order of SEBI dated 31st May, 2017 disposing of the first complaint of the appellant is wrong. SEBI is very well empowered to conduct the investigation in the misconduct committed by Link Intime i.e. Registrar and Transfer Agent of Eicher approved by SEBI. He submitted that the order of NCLT would also show that NCLT found it fit that SEBI's assistance on the contemplated action at SEBI's end would be necessary. He submits that the present case as well as the other cases detailed supra would show that Link Intime has committed misconduct and the SEBI c....