Dismissed

Securities and Exchange Board of India through Its Authorized Officer Avinash Dhumal v. Bpl Limited and Ors.

Bombay HC11 Nov 2019APPLN/157/2018

Case brief

AI extract

What is this about?

The High Court rejected the applicant's application for transfer of proceedings from Sessions Court under CrPC 407, citing the amendable nature of SEBI Act section 26. The Court deemed the applications not maintainable for the stated issue, granting liberty to withdraw and approach the appropriate authority instead.

What did the court decide?

The applications stand disposed of with liberty to withdraw proceedings before the Sessions Court and approach the appropriate authority.

Securities and Exchange Board of India… — Constitutional and Fundamental Rights | Bombay HC (2019)

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1 9) appln411-18++.doc

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SAS

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION

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CRIMINAL APPLICATION NO.411 OF 2018

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Securities and Exchange Board of India ..Applicant. V/s.

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Arun J.Shah & Anr. ..Respondents.

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CRIMINAL APPLICATION NO.157 OF 2018

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Securities and Exchange Board of India ..Applicant. V/s.

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B.P.L. Limited & Ors. ..Respondents.

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CRIMINAL APPLICATION NO.158 OF 2018

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Securities and Exchange Board of India ..Applicant. V/s.

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B.P.L. Limited & Ors. ..Respondents.

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CRIMINAL APPLICATION NO.159 OF 2018

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Securities and Exchange Board of India ..Applicant. V/s.

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B.P.L. Limited & Ors. ..Respondents.

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CRIMINAL APPLICATION NO.160 OF 2018

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Securities and Exchange Board of India ..Applicant. V/s. B.P.L. Limited & Ors. ..Respondents.

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Mr.Omprakash Jha i/b. The Law Point for the applicant.

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Mr.Jayesh Mestry for respondent Nos.1 & 4.

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Ms.Dimple K.Shah for respondent No.3.

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Mr.A.R. Kapadnis, APP for the respondent-State.

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2 9) appln411-18++.doc

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CORAM : NITIN W.SAMBRE, J.

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DATE : NOVEMBER 11, 2019

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P.C. :-

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Submissions are the revisions are not maintainable before the learned Sessions Court in view of amendment to the provisions of section 26 of the Securities and Exchange Board of India Act, 1992 (SEBI Act). As such, the prayer is, this Court should order transfer of the proceedings from the Sessions Court to this Court.

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In my opinion, the present applications under section 407 of the Code of Criminal Procedure cannot address the aforesaid issue which is raised by the learned counsel for the applicant, particularly when he has remedy of withdrawing the proceedings before the Sessions Court and present the same before the appropriate Court.

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Keeping the said liberty intact, the applications stand disposed of.

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Needless to clarify that this Court has not gone into the merits of the matter.

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( NITIN W.SAMBRE, J. )

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3 9) appln411-18++.doc

Securities and Exchange Board of India through Its Authorized Officer Avinash Dhumal v. Bpl Limited and Ors.

Case brief

What is this about?

What did the court decide?

Securities and Exchange Board of India through Its Authorized Officer Avinash Dhumal v. Bpl Limited and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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