Securities Appellate Tribunal
Veena N. Kotecha vs Securities and Exchange Board of India on 12 December 2014
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
DATE : 12.12.2014
Appeal No. 48 of 2014
Veena N. Kotecha
601, Sukh Castle,
Bhandarkar Road, Matunga (CR),
Mumbai – 400 019.
….. Appellant
Versus
Mr. Ankit Lohia, Advocate i/b Crawford Bayley & Co. for the Appellant.
Mr. Kumar Desai, Advocate with Ms. Harshada Nagare, Advocate i/b Daya Gupta for the Respondent.
With
Appeal No. 49 of 2014
Manilal D. Kotecha
601, Sukh Castle, Bhandarkar Road,
Matunga (CR), Mumbai – 400 019.
….. Appellant
Versus
Ms. Manik Joshi, Advocate with Ms. Nimisha Rao, Advocate i/b
Crawford Bayley & Co. for the Appellant.
Mr. Kumar Desai, Advocate with Ms. Harshada Nagare, Advocate i/b Daya Gupta for the Respondent.
With
Appeal No. 52 of 2014
White Water Management Services Pvt. Ltd.
(formerly known as Nishwet Management
Services Pvt. Ltd.)
601, Plot No. 371, Sukh Castle,
Opp. HDFC Bank, Bhandarkar Road,
Versus
……Respondent
Mr. Gaurav Joshi, Senior Advocate i/b Crawford Bayley & Co. for the Appellant.
Respondent.
With
Appeal No. 54 of 2014
Teakwood Management Services Pvt. Ltd.
(Formerly known as Nirman Management
Services Pvt. Ltd.)
601, Plot No. 371, Sukh Castle,
Opp. HDFC Bank, Bhandarkar Road,
Versus
Mr. P. N. Modi, Senior Advocate with Mr. Neville Lashkari, Advocate i/b
Respondent.
With
Appeal No. 186 of 2014
Ms. Viral Doshi
601, Sukh Castle, Bhandarkar Road,
Versus
Mr. P. N. Modi, Senior Advocate with Mr. Neville Lashkari, Advocate i/b
Page 1 of 3
Respondent.
CORAM : Justice J. P. Devadhar, Presiding Officer Jog Singh, Member
A. S. Lamba, Member
Per : Justice J. P. Devadhar (Oral)
1. Appellants in all these appeals have challenged the orders passed by SEBI wherein the appellants are held guilty of aiding and abetting one Mr. Nirmal Kotecha in violating various provision of securities law framed by SEBI. Admittedly, proceedings against Mr. Nirmal Kotecha are still pending and final decision is yet to be taken. In the absence of any decision holding Mr. Nirmal Kotecha guilty of violating securities laws, appellants cannot be said to have aiding and abetting Mr. Nirmal Kotecha in violating securities laws. In these circumstances, counsel for respective appellant seek to withdraw the appeals with liberty to file fresh appeals as and when final decision is taken by SEBI in case of Mr. Nirmal Kotecha.
Page 2 of 3
2. Accordingly, we permit the appellants to withdraw the appeals with liberty to file fresh appeals as and when SEBI passes final order in the case of Mr. Nirmal Kotecha. All five appeals are allowed to be withdrawn with liberty as prayed. No costs.
3. All contentions of both the sides are kept open.
Sd/- Justice J. P. Devadhar Presiding Officer
Sd/- Jog Singh Member
Sd/- A. S. Lamba Member
12.12.2014 Prepared & Compared by PTM
Page 3 of 3
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