BIKASH KUMAR JAIN vs SECURITIES AND EXCHANGE BOARD OF INDIA & ANR.

Judgment text excerpt

$~4 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision: 11th March, 2025 + W.P.(C) 806/2024 BIKASH KUMAR JAIN .....Petitioner Through: Mr. N.K. Singh, Advocate. versus SECURITIES AND EXCHANGE BOARD OF INDIA & ANR. .....Respondents Through: Mr. Sai Deepak, Sr. Advocate with Ms. Ekta Choudhary, Mr. Anand Krishna and Mr. R. Abhishek, Advocates for respondent No.1. Mr. Vinay Yadav with Mr. Ansh Kalra, Ms. Kamna Behrani, Ms. Divyanshu Sinha, Advocates for respondent No.2. CORAM: HON'BLE MR. JUSTICE MANOJ JAIN J U D G M E N T (oral) 1. The present petition has been preferred by petitioner invoking Article 226 and 227 of the Constitution of India. 2. The grievance raised in the present petition is with respect to order dated 17.10.2023, passed by Securities Appellate Tribunal whereby the appeal filed by the petitioner herein has been dismissed on the point of limitation. Along with the aforesaid appeal, the appellant had filed an application under Section 5 of Limitation Act, 1963 as there was a delay of 188 days in filing such appeal and the learned Tribunal, after considering the entire matter, held that such application lacked merit, and consequently, while rejecting the application, the appeal was also dismissed. Signature Not Verified Digitally Signed W.P.(C) 806/2024 1 By:SONIA THAPLIYAL Signing Date:12.03.2025 18:26:10 3. Such order dated 17.10.2023 is under challenge. 4. Admittedly, as per Section 15Z of Securities and Exchange Board of India Act, 1992 (SEBI Act), any person aggrieved by any such decision of the Appellate Tribunal can file an appeal to the Hon‟ble Supreme Court. The abovesaid provision reads as under:- “15Z. Appeal to Supreme Court. Any person aggrieved by any decision or order of the Securities Appellate Tribunal may file an appeal to the Su