2022 (9) TMI 1485

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....he Respondents : Ms. Pinky Anand, Sr. Adv. with Mr. Ashish Aggarwal, Ms. Sandamini Sharma, Ms. Jasmine Kaur, Ms. Nikita Sharma, Advs. for SEBI ORDER W.P.(C) 13322/2022 & CM APPL. 40430/2022 (Stay) & CM APPL. 40431/2022 (Lengthy Synopsis & List of Dates), 40432/2022 (for exemption) This writ petition has been preferred against an order dated 22 February 2021 passed by the Adjudicating Auth....

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....t be held liable and that they would not be adversely impacted by the decision ultimately taken. It was contended that misconstruing that decision, earlier also the respondents had initiated coercive action against the petitioner which constrained him to prefer a writ petition before this Court. That writ petition being W.P.(C) 4517/2017 ultimately came to be disposed of on 05 February 2018 with t....

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....ve to return the moneys held in trust by it. Needless to say if the Recovery Officer reaches a contrary conclusion, then, the Board would continue to hold the moneys and use the same as mandated by law. 20. With the aforesaid observations, the writ petition is disposed of. Learned counsel drew the attention of the Court to the relevant parts of the said decision in which too the petiti....

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....he original order passed. The learned Judge had further observed that in case the Recovery Officer find merit in the challenge so raised, it would not continue the proceedings as initiated against the petitioner. It was further observed that in case it reached a contrary conclusion, it would be open for the Board to continue to hold the monies and utilise the same in accordance with law. Learned c....