2024 (3) TMI 1143

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....ass a writ, order or direction setting aside and quashing Show Cause Notice dated 17.05.2023 under the provisions of Sections 11(1), 11(2)(b), 11(4) and 11(B) of the Securities Exchange Board of India Act, 1992 bearing SEBI/MRD/19860/2023 issued by the Deputy General Manager, Securities and Exchange Board of India ["SEBI"] against the Petitioner; and ii. Pass an order staying the proceedings emanating out of Show Cause Notice dated 17.05.2023 under the provisions of Sections 11(1), 11(2)(b), 11(4) and 11(B) of the Securities and Exchange Board of India Act, 1992 bearing SEBI/MRB/19860/6/2023 issued by the General Manager, Securities and Exchange Board of India ["SEBI"] against the Petitioner till the disposal of the present writ; ....

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....ngs initiated under the show-cause notice be stayed till the pendency of the Appeal before the Tribunal. On such Interim Application, an order came to be passed by the Tribunal on 29th January, 2024 whereby the Tribunal, considering the rival contentions, ordered that in the interest of justice, the Respondent be directed to give an opportunity of a cross-examination and personal hearing. The Petitioner was directed to appear before the Whole Time Member on 9th February, 2024, on which date, the Petitioner would be provided an opportunity of cross-examination. It was however also observed that when an opportunity of a personal hearing before the WTM would be given to the Petitioner, the Petitioner could raise all issues including that of ju....

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....is Court, of which one of us (G. S. Kulkarni, J.) was a member. "1. Not on board. Taken on board. 2. The petitioner is permitted to seek adjournment at the hearing fixed by the Whole Time Member, which is stated to be today as also tomorrow. 3. List the proceedings on 15 February, 2024." 5. On the above backdrop, the proceedings are listed before this Court today. 6. The contention as urged on behalf of the Petitioner is that the impugned show-cause notice is without jurisdiction and the issue of jurisdiction is required to be decided as a preliminary issue before the show-cause notice itself is taken up for adjudication. It is submitted that now the Petitioner after passing of the order dated 8th February, ....