2023 (10) TMI 357

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..... R1, Mr.S.L.Rajesh for R2, Mr.K.Newlin Frederick for R3 ORDER The Adjudicating Officer of SEBI vide its order dated 16.07.2017 has imposed the penalty of Rs. 25,52,781/- on the petitioner vis-a-vis the petitioner's PAN No. given in the order does not belong to him, but to a third party. But ignoring the same, the petitioner preferred an appeal to the Securities Appellate Tribunal. On 07.08.2 .....

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..... respondent claims interest based on Explanation 4 of Section 28A of the SEBI Act, 1992. In terms of Explanation 4, the interest is required to be as per Sec. 220 of the Income Tax Act, 1961. Section 220 provides that where any amount, otherwise than by way of advance tax, specified as payable in a notice of demand under Section 156, the same shall be paid within 30 days of the service of the noti .....

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..... ion 15-Z and challenge it. And if it is against such other orders of the Board or the adjudicating officer, then the petitioner ought to approach the SEBI Appellate Tribunal under Section 15T. Hence, the present writ is not entertainable. Secondly, so far as the present dispute itself is concerned, the petitioner knew against whom the order of penalty was passed, and it is hence he has to approach .....

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