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TMI Blog2017 (3) TMI 1811X X X X Extracts X X X X X X X X Extracts X X X X ..... mar, AOR Ms. Vishakha, Mr. Prashant Kumar, AOR (N.P.) For Respondent(s) Mr. Pratap Venugopal, Ms. Surekha Rajan, Mr. Anuj Sarma, Ms. Niharika, Mr. Aman Shukla, Ms. Kanika Kalaiyarasan, ORDER 1) We have heard learned counsel appearing for the parties at considerable length. 2) It appears that the only question in this matter is whether the Adjudicating Officer under Section 15A of the Securit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r passed by the Adjudicating Officer on the basis of drawing adverse inferences against the appellant which is based on no material facts and no positive evidence has been furnished is totally erroneous. 5) He also contends that the Adjudicating Officer has also failed to take into consideration that there was no non-compliance of summons, if she considered that in the first instance the summons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to have submitted by BBL to deliberately mislead both SEBI as well as the stock exchanges." 7) Learned counsel appearing for the appellant also relied on para 2.4 of the report submitted by the expert group constituted by the Securities and Exchange Board of India under the Chairmanship of Mr. Justice M.H. Kania, former Chief Justice of India which reads as follows: "The group noted that as per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , we are of the view that that the order passed by the Tribunal is not sustainable and hence the same is set aside. 10) The appeal is allowed. CIVIL APPEAL NO. 5859 OF 2006: 11) Learned counsel appearing for the appellant submits that he does not want to press this appeal. 12) In view of the submission made, the appeal is dismissed as not pressed. CIVIL APPEAL NO. 7241 OF 2008: Even on secon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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