Swati Basu 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. Recovery Officer Northern Regional Office at New Delhi Bank of Baroda Building, 5th Floor, 16 Sansad Marg, New Delhi – 110 001.

… Respondents

Mr. Ranit Basu, Advocate i/b Triptimoy Talukdar for the Appellant. Mr. Pradeep Sancheti, Senior Advocate with Mr. Vivek Shah, Advocate 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. 308 of 2017 :

1. By this misc. application, appellant seeks condonation of 551 days delay in filing the appeal. For the reasons stated in the application, delay is condoned. Misc. application is disposed of accordingly.

Appeal No. 338 of 2017 :

1. This appeal is filed to challenge the attachment notice issued by the recovery of officer of SEBI on May 20, 2016. It is the case of the appellant that the attachment on the joint asset is levied on the footing that the said

2 asset belongs to her husband Mr. Manindra Kumar Basu. It is the case of the appellant that the attached asset exclusively belongs to her and not to her Late husband Manindra Kumar Basu.

2. In these circumstances, we permit the appellant to make representation to the Recovery Officer of SEBI setting out the facts in detail regarding the ownership of the asset. Representation, if any, be made within a period of four weeks from today. If such a representation is made, recovery officer shall consider the same and pass an appropriate order.

3. Appeal is disposed of in the aforesaid terms 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