Mr Arun Jain vs Securities and Exchange Board of India on 23 December 2013

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI

Date of Decision: 23.12.2013

Appeal No. 196 of 2013 Mr Arun Jain 244 Anna Salai, Chennai-600 006

…Appellant

Versus

Securities and Exchange Board of India, SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051.

…Respondent

Mr. J.J. Bhatt, Senior Advocate with Mr. Ravichandra S. Hegde, Mr. Abishek Vankatraman and Ms. Arti Raghavan, Advocates for the Appellant.

Mr. Shiraz Rustomjee, Senior Advocate with Mr. Mihir Mody and Mr. Pratham V. Masurekar, Advocates for the Respondent.

CORAM : Justice J.P. Devadhar, Presiding Officer Jog Singh, Member A.S. Lamba, Member Per: Justice J.P. Devadhar (Oral)

This appeal is filed to challenge impugned order passed by Whole Time Member of the Securities and Exchange Board of India on October 9, 2012. Counsel for both the parties state that in view of peculiar facts of present case, without going into merits of the case and without giving any reasons impugned order dated October 9, 2012 may be set aside.

Accordingly, appeal is allowed by quashing and setting aside impugned order dated October 9, 2012 with no order as to costs.

Sd/- Justice J.P. Devadhar Presiding Officer

Sd/-

Jog Singh

Member

Sd/- A S Lamba Member 23.12.2013 Prepared & Compared By: Pk