Jhaveri Securities Pvt. Ltd. vs Securities and Exchange Board of India on 5 December 2008

BEFORE THE SECURITIES APPELLATE TRIBUNAL

MUMBAI

Appeal No. 80 of 2006

Date of decision : 5.12.2008

Jhaveri Securities Pvt. Ltd. …… Appellant

Versus

Securities and Exchange Board of India …… Respondent

Mr. Janak Dwarkadas Senior Advocate with Mr. Somasekhar Sundaresan, Mr. Ankit Lohia and Mr. Zerick Dastur Advocates for the Appellant. Dr. Mrs. Poornima Advani Advocate with Mr. Anant Upadhyay Advocate for the Respondent.

Coram : Justice N.K. Sodhi, Presiding Officer Utpal Bhattacharya, Member

Per : Justice N.K. Sodhi, Presiding Officer (Oral)

During pendency of the appeal, the appellant filed an application before the respondent Board for a consent order. Counsel for the parties are agreed that the terms offered by the appellant have been approved by the High Powered Committee constituted for the purpose and that those terms have also been approved by the two whole time members of the Board. They inform us that a formal order of consent is to be issued subject to the condition that the appellant withdraws the appeal. In view of the consent terms having been approved by the respondent Board, the appellant seeks permission to withdraw the appeal. Dismissed as withdrawn.

Sd/-

Justice N.K. Sodhi

Presiding Officer

Sd/-

Utpal Bhattacharya

Member

5.12.2008 ddg