Tariq Nafees vs Securities and Exchange Board of India on 21 December 2017

1. Securities and Exchange Board of India SEBI Bhavan, C-4A, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051.

2. Reserve Bank of India Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai, Maharashtra – 400 001.

… Respondents

Mr. Tariq Nafees, Appellant in person. Mr. Mustafa Doctor, Senior Advocate with Mr. Chirag Bhavsar, Mr. Rohan Agarwal, Advocates i/b MDP & Partners for the Respondents.

CORAM : Justice J. P. Devadhar, Presiding Officer Jog Singh, Member Dr. C. K. G. Nair, Member Per : Justice J. P. Devadhar (Oral)

Misc. Application No. 307 of 2017 :

1. By this misc. application, appellant seeks condonation of 8 days delay in filing the appeal. For the reasons stated in the application, delay is condoned. Misc. application is disposed of accordingly.

Appeal No. 337 of 2017 :

1. This appeal is filed to challenge the order passed by the WTM of SEBI on July 21, 2017. Counsel for SEBI states that the impugned order is passed against the appellant on the footing that he was a director of

2 Verinder Finance Ltd. Since the appellant has contended that he was not director of the company at the relevant time, SEBI has verified from the website of RoC and found that the appellant was in fact not a director at the relevant time.

2. In these circumstances, the impugned order qua the appellant is quashed and set aside with no order as to costs.

Sd/- Justice J. P. Devadhar Presiding Officer

Sd/- Jog Singh Member

Sd/- Dr. C. K. G. Nair Member 21.12.2017 Prepared & Compared by PTM