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TMI Blog2019 (4) TMI 1090X X X X Extracts X X X X X X X X Extracts X X X X ..... y jerking the price of the share of petitioner s company? - HELD THAT:- No doubt, that petitioner had filed an application for compounding way back in the year 2013 and it remained pending, but now, the proceedings before the trial court have reached the stage of final arguments. Compounding at the initial stage has to be encouraged, but not at the final stage. The object of the SEBI Act has to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er s application under Section 24A of the SEBI Act, 1992. - CRL. REV. P. 1076/2018 & CRL.M.As. 48768/2018 And 1407/2019 - - - Dated:- 1-4-2019 - MR. JUSTICE SUNIL GAUR Appellant: Mr. Jagdeep Singh Bakshi And Mr. Abhishek Mohan Sinha, Advocates Respondents: Mr. Sanjay Mann and Ms. Simran, Advocates for respondent-SEBI ORDER (ORAL) 1. Trial court vide impugned order of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bench decision of High Court of Bombay in N.H. Securities Ltd. Vs. Securities and Exchange Board of India 2018 SCC OnLine Bom 4040 to support the impugned order and submits that the object of the SEBI Act would be lost if compounding is permitted by this Court, as the allegations levelled against petitioner are of artificially jerking the price of the share of petitioner s company. 4. In reb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... even in the absence of such consent, the court, in the interest of justice, can in its discretion close the proceedings and discharge the accused. No doubt, that petitioner had filed an application for compounding way back in the year 2013 and it remained pending, but now, the proceedings before the trial court have reached the stage of final arguments. 6. Compounding at the initial stage has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es Ltd.(Supra) as well as the facts and circumstances of this case, I find no justification to allow petitioner s application under Section 24A of the SEBI Act, 1992. 7. Consequentially, petitioner s application under Section 24A of the SEBI Act is declined, while not commenting on merits of this case. 8. This petition and the applications are accordingly disposed of. - - TaxTMI - TMITa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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