Swapan Sadhukhan vs Securities and Exchange Board of India & Others on 19 December 2016

1. Securities & Exchange Board of India

2. The Assistant Manager

3. The Recovery Officer, Manjesh S. Roy, SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051.

4. Golden Life Agro India Ltd. 35, Upendra Nath Mitra Lane, Salkia, Howrah – 711 106, West Bengal.

… Respondents

Mr. Om Narayan Rai, Advocate with Mr. Saiket Ray Choudhury, Advocate for the Appellant. Mr. Rajesh Nagori, Advocate with Mr. Tomu Francis, Advocate for the Respondents.

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

1. This appeal is filed to challenge the recovery certificate dated May 25, 2016. Basic grievance of the appellant is that the amount quantified in the recovery certificate by the Recovery Officer is not in consonance with the order passed by the Whole Time Member of SEBI. However, after the matter was argued for some time, counsel for appellant accepts the amount quantified in the Recovery Certificate.

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2. Second plea of the appellant is that inspite of furnishing list of assets, SEBI has not taken any steps in the matter.

3. Counsel for SEBI on instruction states that requisite steps would be taken in due course. Statement is accepted.

4. In view of the above nothing survives in the appeal.

5. Appeal is, accordingly, disposed of in the aforesaid terms with no order as to costs.

Sd/- Justice J. P. Devadhar Presiding Officer

Sd/- Dr. C. K. G. Nair Member 19.12.2016 Prepared & Compared by PTM