Appeal No. 28 of 2013. Case: Shriniwas Power & Infrastructure Ltd., (Formerly known as Concurrent (India) Infrastructure Limited) Vs Securities and Exchange Board of India. Securities and Exchange Board of India

Case NumberAppeal No. 28 of 2013
CounselFor the Appellant: None and For the Respondent: Mr. Mihir Mody, Advocate with Mr. Akhilesh Singh, Advocate
JudgesJog Singh, Member & Presiding Officer (Offg.) and A. S. Lamba, Member
IssueSecurities and Exchange Board of India Act
Judgement DateJune 21, 2013
CourtSecurities and Exchange Board of India

Order:

Jog Singh (Oral)

  1. No one is present on behalf of the appellant despite second call. On the last date of hearing i.e. on April 18, 2013, there was no appearance on behalf of the appellant. Accordingly, in the interest of justice the matter was adjourned. From the above said, it appears that the appellant is not interested in prosecuting the matter. In this background, we proceed to dispose of the matter on the basis of pleadings contained in the Appeal and the oral submissions made by Mr. Mihir Mody and Mr. Akhilesh Singh, learned counsel for the respondent.

  2. We have minutely perused the appeal and documents annexed therewith. At the outset, we are informed that this Tribunal by its order dated April 18, 2013 passed in Appeal no. 38/39 of 2013 in the case of K. Nirmala vs. SEBI and K. Nirupama vs. SEBI, keeping in view the facts and circumstances of that case, reduced the penalty by modifying...

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