2025 (5) TMI 1151

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....rocedure, 1973 ('Cr.P.C.' hereinafter) has been filed by the Petitioner-Securities and Exchange Board of India ('SEBI' hereinafter) against the Order dated 27.01.2025 passed by the learned Sessions Court in in CC No. 739 Of 2023, whereby the sentence of only to the extent of 'Till Rising of the Court' and payment of fine of Rs. 5,00,000/- and in default the said fine is to be recovered out of her Estate, has been awarded. 2. The learned Additional Session Judge vide impugned Judgment 03.12.2024 has convicted the Respondent for the offences under Section 12 (1B) of SEBI Act, 1992 and Regulation 5 (1), 68 (1), 68 (2), 73 and 74 of the CIS Regulation, 1999, punishable under Section 24 read with Section 27 of the SEBI Act, 1992. 3. The gr....

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....t on the same day she apologised for her conduct, which is noted by the learned Trial Court in Paragraph No. 54 & 55 of the Judgment dated 03.12.2024. 7. It is submitted that the learned Trial Court has erred in relying upon the alleged medical record of the Respondent which were produced before the learned Trial Court at the time of Arguments on Sentence which indicated that she was suffering from 'Organic Bipolar Disorder'. 8. The Respondent was being represented by her Counsel and in case she was suffering from mental disorder, she should have moved an appropriate Application under Section 328 Cr.P.C. for appointment of Medical Board. 9. It has also not been considered that no evidence about her mental stability or suffering fro....

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....ent. At the stage of Order on Sentence, medical documents of the year 2020-2021, 2022-2023 and 2023-2024 had been filed in support of her medical condition. The medical condition was also held to be apparent from her appearance as she was not responding well to the questions put to her. 13. Considering her medical condition, it was not considered necessary to get her examined by the Medical Board since it was not a case of Mental unsoundness of mind. However, considering the long trial and her medical condition, she was sentenced to imprisonment of "till rising of the Court" and to pay fine of Rs. 5,00,000/- with further directions that if the fine amount is not paid, the same shall be recovered from her Estate. 14. The aforesaid obse....