2022 (8) TMI 1384 - AT - SEBI

Condonation of delay - inordinate delay in approaching the Tribunal - 77 complaints have been filed by the appellant for the same cause of action - first complaint was disposed of on the SCORES platform on March 22, 2019 but instead of challenging that order the appellant filed fresh complaint and based on that has now filed the present appeal - HELD THAT - In our opinion there is an inordinate delay in approaching the Tribunal. In view of the inordinate delay, we do not find any adequate reason to condone the delay at this belated stage. The appeal is dismissed with no order as to costs. Misc. applications are disposed of accordingly. This order will be digitally signed by the Private Secretary on behalf of the bench and all concerned parties are directed to act on the digitally signed copy of this order. Certified copy of this order is also available from the Registry on payment of usual charges.

Summary

The Securities Appellate Tribunal Mumbai dismissed an appeal due to inordinate delay in approaching the Tribunal. The appellant filed multiple complaints for the same cause of action, with the first complaint disposed of on March 22, 2019. The Tribunal found no adequate reason to condone the delay and dismissed the appeal with no order as to costs.