SECURITIES AND EXCHANGE BOARD OF INDIA vs VIJAY LAXMI

Judgment text excerpt

$~49 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of decision: May 07, 2025 + CRL.REV.P. 181/2025 & Crl.M.A. 14081/2025 SECURITIES AND EXCHANGE BOARD OF INDIA .....Petitioner Through: Mr Sunil Dalal, Senior Advcoate with Mr. Ashish Aggarwal, Ms. Shivangi Shoukeen, Mr. Rahul Malim & Ms. Lisha Arora, Advocates Versus VIJAY LAXMI .....Respondent Through: CORAM: HON'BLE MS. JUSTICE NEENA BANSAL KRISHNA J U D G M E N T (oral) 1. The present Criminal Revision Petition under Section 438 read with Section 528 of The Bhartiya Nagrik Suraksha Sanhita, 2023(‘BNSS’ hereinafter) and under Section 397 read with Section 482 of the Code of Criminal Procedure, 1973 (‘Cr.P.C.’ hereinafter) has been filed by the Petitioner-Securities and Exchange Board of India (‘SEBI’ hereinafter) against the Order dated 27.01.2025 passed by the learned Sessions Court in in CC No. 739 Of 2023, whereby the sentence of only to the extent of 'Till Rising of the Court' and payment of fine of Rs,5,00,000/- and in default the said fine is to be recovered out of her Estate, has been awarded. 2. The learned Additional Session Judge vide impugned Judgment 03.12.2024 has convicted the Respondent for the offences under Section 12 CRL.REV.P. 181/2025 Page 1 of 5 Signature Not Verified Signed By:VIKAS ARORA Signing Date:13.05.2025 16:35:18 (1B) of SEBI Act, 1992 and Regulation 5(1), 68 (1), 68(2), 73 and 74 of the CIS Regulation, 1999, punishable under Section 24 read with Section 27 of the SEBI Act, 1992. 3. The grievance of the Petitioner is in regard to the leniency in sentence awarded to Respondent Vijay Laxmi and has sought enhancement of the sentence. 4. The grounds for seeking enhancement of the sentence are that the impugned Order on Sentence has been made in a slipshod manner, as no adequate sentence has