Securities Appellate Tribunal (SAT): The Coram of Tarun Agarwala, J (Presiding Officer) and M.T. Joshi, J (Judicial Member), in the same matter on subsequent dates, exclaimed that the Adjudicating Authority dealt with the matter in a very casual manner first. And on the subsequent date on not filing an affidavit as was directed previously, was of the opinion that it amounted to contempt.
The Tribunal stated, “Inspite of making a specific assertion, the Adjudicating Officer (“AO”) has dealt issue-1 in paragraph 12 in a very casual manner without dealing the contention raised by the appellant. Prima facie in our view this amounts to judicial dishonesty”. And for not following the subsequent direction to file an affidavit, the Court was of the opinion that, “This itself amounts to contempt the proceedings of this Tribunal”.
However, the Tribunal gave the Appellant an opportunity ‘to produce an order of the Supreme Court within four weeks as desired by them’. The matter is listed for 27-01-22.[Yatin Pandya HUF v. SEBI, 2021 SCC OnLine SAT 368, order dated 23-12-2021]
Agatha Shukla, Editorial Assistant has reported this brief.
Counsel for Appellant:
Akansha Jain
Counsel for Respondent:
Arunobh Chowdhury
Sumit Rai
Manish Chhangani
Ravi Shekar Pandey
Samreen Fatima