Disposed

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

Bombay HC11 Nov 2019APPLN/158/2018

Case brief

AI extract

What is this about?

The High Court disposed of criminal applications seeking transfer of proceedings from the Sessions Court to itself due to amendments in the SEBI Act. The Court found that Criminal Procedure Code section 407 could not address the issue, urging withdrawal and fresh presentation before the appropriate court.

What did the court decide?

Applications disposed of keeping liberty intact; court advised withdrawing proceedings before Sessions Court.

Securities and Exchange Board of India through… — Civil Procedure and Limitation | 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

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