Tejas Ghelani vs Securities And Exchange Board Of ...
2022 Latest Caselaw 4491 Bom

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                                 IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                      CRIMINAL APPELLATE JURISDICTION


                                        CRIMINAL APPEAL NO.1708 OF 2019

                      Tejas Ghelani                                     .. Appellant
                               Versus
                      Securities and Exchange Board of India
                      and Anr.                                          .. Respondents

                                                     ......
                      Mr.Aditya R. Mokashi i/b. M/s.R.B. Mokashi & Associates, Advocate
                      for the Appellant.

                      Ms.Ushajee Peri, Spl. P.P. For Respondent No.1 - SEBI.

                      Mr.S.V. Gavand, APP for the Respondent No.2-State.
                                                      ......
                                                    CORAM :     PRAKASH D. NAIK, J.

                                                     DATED :      APRIL 27, 2022.

                      P.C. :

                                    The appellant is convicted for the offence punishable

                      under Section 24(2) of the SEBI Act, and, he is sentenced to pay fne

                      of Rs.1,50,000/-, and, in default to undergo simple imprisonment for

RAJESHRI
PRAKASH
                      six months. It was further directed that if fne amount of
AHER
Digitally signed by
RAJESHRI PRAKASH
AHER
Date: 2022.04.29
                      Rs.1,50,000/-, is realized an amount of Rs.1,25,000/-, shall be paid to
16:27:36 +0530




                      SEBI as a compensation by a Demand Draft or Pay Order and an

                      amount of Rs.25,000/-, shall be deposited in the Court.


                      2             Learned advocate for the applicant has submitted that

                      the amount of Rs.25,000/-, has been deposited before the trial Court in
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accordance with the judgment and order dated 27 th November, 2019.

On instructions, it is submitted that the applicant is willing to pay an

amount of Rs.1,25,000/- to the SEBI, which was imposed vide

judgment and order dated 27th November, 2019, by way of

compensation, within a period of eight weeks from today.



3           In view of the aforesaid submissions, I pass the following

order:

                             :: O R D E R ::

(i) Admit.

(PRAKASH D. NAIK, J.)