2025 (11) TMI 1969

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tes i/b The Law Point. ORDER PER: JUSTICE P. S. DINESH KUMAR, PRESIDING OFFICER (ORAL) Misc. Application No. 468 of 2025 and Misc. Application No. 1096 of 2025 are filed in the disposed of Appeal No. 127 of 2024. Misc. Application No. 468 of 2025 is filed with a prayer to condone the delay of 451 days in challenging order dated August 4, 2022 passed by the WTM [Whole Time Member], SEBI [Securities & Exchange Board of India] and recovery certificate dated August 21, 2023. Misc. Application No. 1096 of 2025 is filed with a prayer to restore Appeal No.127 of 2024 to its original file. 2. We have heard Mr. D. R. Ravishankar, learned senior advocate with Mr. Vedchetan Patil, learned advocate for the applicant and Mr. Manish Chhangani....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ve been filed. 7. We may record that admittedly, the appellant has challenged the order passed by this Tribunal before the Hon'ble Supreme Court of India and thereafter filed these applications. Learned senior advocate submitted that the reason for delay in approaching this Tribunal while filing Appeal No. 127 of 2024 is mentioned in paragraph Nos. 34 and 36 of the Misc. Application No. 468 of 2025. 8. Shri Manish Chhangani, learned advocate for the respondent submitted that this matter was heard on the last date of hearing and this Tribunal was of the view that the application in this form is not maintainable as it amounts to re-agitating the entire matter afresh. He submitted that the learned advocate who appeared on the last date o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ing. He had sought time to complete instructions. Today, a senior advocate appeared and sought to argue in support of the applications. According to him the reason for delay in approaching this Tribunal while filing Appeal No. 127 of 2024 is explained in paragraph Nos. 34 and 36 of the Misc. Application No. 468 of 2025. The said grounds read as follows:- "34. It is thus submitted that to challenge the impugned order dated August 4, 2022 passed by the learned WTM, the primary cause of Delay is : i. Ambiguous nature of the directions in the impugned order, which lead the appellant to believe that no recovery will be effected against the appellant. ii. Health issues of the father of the Appellant. iii. Unava....