Before the Securities Appellate Tribunal Mumbai

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of decision: 14/03/2016 Appeal No.338 of 2015 Shri Bipin Jayant Thakker 381/E, Nanotane Wadi, 1 st Floor, Room No.16, Kalbadevi Road, Girgaon, Mumbai – 400 002. … Appellant Versus Securities & Exchange Board of India SEBI Bhavan, Plot No.C-4A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. … Respondent WITH Appeal No.339 of 2015 Shri Chirag Rajnikant Jariwala 302, Kalbadevi Road, 1st Floor, Room No.2, Above Mahavir NX, Mumbai – 400 002. … Appellant Versus Securities & Exchange Board of India SEBI Bhavan, Plot No.C-4A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. … Respondent -2- WITH Appeal No.340 of 2015 Shri Ankit Sanchaniya Flat no.9, B Wing, Zainab Baugh, Bharucha Road, Dahisar (East), Mumbai – 400 068. … Appellant Versus Securities & Exchange Board of India SEBI Bhavan, Plot No.C-4A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. … Respondent WITH Appeal No.341 of 2015 Shri Prem Mohanlal Parikh 140/K, Cavel Cross Lane No.07, 1st Floor, Room No.01, Kalbadevi, Mumbai – 400 002. … Appellant Versus Securities & Exchange Board of India SEBI Bhavan, Plot No.C-4A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. … Respondent WITH Misc. Application No.241 of 2015 And Appeal No.349 of 2015 Hemant Madhusudan Sheth Flat No.29, 2 nd floor, 115/117, Bhuleshwar Road, Near Kabutar Khana, Mumbai – 400 002. … Appellant Versus Securities & Exchange Board of India SEBI Bhavan, Plot No.C-4A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. … Respondent -3- WITH Misc. Application No.244 of 2015 And Appeal No.354 of 2015 Shri Bhupesh Rathod Labh Niwas, A Wingh, 1st Floor, Flat No.1, 4th Khetwadi Lane, Mumbai – 400 008. … Appellant Versus Securities & Exchange Board of India SEBI Bhavan, Plot No.C-4A, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. … Respondent Mr. Rajesh Khandelwal, Advocate for Appellants. Mr. Kumar Desai a/w Mr. Tomu Francis for the Respondent. CORAM : Justice J.P. Devadhar, Presiding Officer Jog Singh, Member Per : Justice J.P. Devadhar (Oral) Misc. Application No.241 of 2015 in Appeal No.349 of 2015 : By this Misc. Application, Appellant seeks condonation of 66 days delay in filing the Appeal. For the reasons stated in the Misc. application, delay is condoned. Misc. Application is disposed of accordingly. Misc. Application No.244 of 2015 in Appeal No.354 of 2015 : By this Misc. Application, Appellant seeks condonation of 64 days delay in filing the Appeal. For the reasons stated in the Misc. application, delay is condoned. Misc. Application is disposed of accordingly. -4- Appeal Nos.338, 339, 340, 341, 349 & 354 of 2015 : 1. In the light of the judgment of Apex Court in the case of SEBI vs. Roofit Industries Ltd., reported in (2016) 194 Comp. Cas.186 (S.C.), Counsel for Appellants on instruction seeks to withdraw the Appeals and requests for three months’ time to pay the amount of penalty imposed under the orders which are impugned in these Appeals. 2. Counsel for SEBI leaves the question of granting time to pay penalty, to the Tribunal. 3. Accordingly, in the facts of these cases, while permitting the Appellants to withdraw the above Appeals, three months time is granted to the Appellants to pay the penalty imposed in the respective orders impugned in these Appeals. 4. If the amount of penalty imposed under the impugned orders are paid by the Appellants within three months from today, then SEBI shall accept the same in discharge of the entire claim under the impugned orders. If the Appellants fail to pay the penalty within the time stipulated herein, then SEBI is at liberty to recover the penalty with interest as is permissible in law. 5. All these Appeals and Misc. Applications are disposed of in the above terms with no order as to costs. Sd/- Justice J.P. Devadhar Presiding Officer Sd/- Jog Singh Member 14/3/2016 Prepared & compared by-ddg .

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