Gauhati High Court
Page No.# 1/6 vs Ankita Didwania on 3 March, 2025
Page No.# 1/6
GAHC010204962022
undefined
THE GAUHATI HIGH COURT
(HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)
Case No. : WA/327/2022
THE SECURITIES AND EXCHANGE BOARD OF INDIA AND ANR.
REP. BY ITS CHAIRMAN HAVING ITS OFFICE SITUATED
AT SEBI BHAVAN, PLOT NO. C4-A, G-BLOCK,
BANDRAKURLA COMPLEX, BANDRA(EAST), MUMBAI- 400051.
2: THE ADJUDICATING OFFICER
SEBI BHAVAN
PLOT NO. C4-A
G-BLOCK
BANDRAKURLA COMPLEX
BANDRA(EAST)
MUMBAI- 400051
VERSUS
ANKITA DIDWANIA
W/O RAJIV DIDWANIA,
KAMRUP CHAMBER ROAD,
FANCY BAZAR, GUWAHATI- 781001.
Advocate for the Petitioner : MR. D SAIKIA, MR P NAYAK,MR. B GOGOI,MR
DEBANUJ DUTTA,MR A CHALIHA
Advocate for the Respondent : MR. A GOYAL, MR. A CHOUDHURY,MR. A
GOYAL,MR. A CHOUDHURY
Linked Case : WA/402/2024
THE SECURITIES AND EXCHANGE BOARD OF INDIA
REPRESENTED BY ITS CHAIRMAN
HAVING ITS OFFICE SITUATED AT SEBI BHAWAN
PLOT NO. C4 A
G BLOCK
Page No.# 2/6
BANDRA KURLA COMPLEX
BANDRA(EAST) MUMBAI 400051
2: THE DEPUTY GENERAL MANAGER AND THE ADJUCATION OFFICER
WESTERN REGIONAL OFFICE
SEBI BHAWAN PANCHVATI
1ST LANE
GULBAL TEKRA ROAD
AHMEDABAD 380006
VERSUS
ROSHNI DIDWANIA
W/O SRI PARAS DIDWANIA
RESIDENT OF KAMRUP CHAMBER ROAD FANCY BAZAR GUWAHATI
781001
------------
Advocate for : MR. B GOGOI
Advocate for : appearing for ROSHNI DIDWANIA
Linked Case : WA/56/2025
THE SECURITIES AND EXCHANGE BOARD OF INDIA AND ANR
REPRESENTED BY ITS CHAIRMAN HAVING ITS
OFFICE SITUATED AT SEBI BHAWAN
PLOT NO. C4-A G BLOCK
BANDRA KURLA COMPLEX
BANDRA(EAST)
MUMBAI 400051.
2: THE ADJUDICATING OFFICER
SEBI BHAWAN
PLOT NO.C 4-A
G BLOCK
BANDRA KURLA COMPLEX
BANDRA (EAST)
MUMBAI-400051.
VERSUS
SWETA DIDWANIA
W/O VIKRAM DIDWANIA
RESIDENT OF KAMRUP CHAMBER ROAD
Page No.# 3/6
FANCY BAZAR
GUWAHATI 781001
------------
Advocate for : MR. B GOGOI
Advocate for : MR. A GOYAL appearing for SWETA DIDWANIA
Linked Case : WA/57/2025
THE SECURITIES AND EXCHANGE BOARD OF INDIA AND ANR
REPRESENTED BY ITS CHAIRMAN HAVING ITS OFFICE SITUATED AT SEBI
BHAVAN
PLOT NO C4-A
G-BLOCK
BANDRA KURLA COMPLEX
BANDRA (EAST)
MUMBAI-400051.
2: THE ADJUDICATING OFFICER
SEBI BHAVAN
PLOT NO.C4-A
G-BLOCK
BANDRA KURLA COMPLEX
BANDRA (EAST)
MUMBAI-400051.
VERSUS
NIRMALA DIDWANIA
W/O SRI SAJJAN KUMAR DIDWANIA
R/O KAMRUP CHAMBER ROAD
FANCY BAZAAR
GUWAHATI-781001.
------------
Advocate for : MR. B GOGOI
Advocate for : MR. A GOYAL appearing for NIRMALA DIDWANIA
Linked Case : WA/58/2025
THE SECURITIES AND EXCHANGE BOARD OF INDIA
REPRESENTED BY ITS CHAIRMAN HAVING ITS OFFICE SITUATED AT SEBI
BHAVAN
PLOT NO C4-A
G-BLOCK
BANDRA KURLA COMPLEX
BANDRA (EAST)
MUMBAI-400051.
Page No.# 4/6
VERSUS
KANTA DIDWANIA
W/O BISHNU KUMAR DIDWANTA
R/O KAMRUP CHAMBER ROAD
FANCY BAZAR
GUWAHATI-781001.
------------
Advocate for : MR. B GOGOI
Advocate for : appearing for KANTA DIDWANIA
Linked Case : WA/403/2024
THE SECURITIES AND EXCHANGE BOARD OF INDIA
REP. BY ITS CHAIRMAN HAVING ITS OFFICE SITUATED AT SEBI BHAVAN
PLOT NO. C 4-A
G- BLOCK BANDRA KURLA COMPLEX
BANDRA (EAST) MUMBAI-400051.
2: THE DEPUTY GENERAL MANAGER AND THE ADJUCATIING OFFICER
WESTERN REGIONAL OFFICE
SEBI BHAWAN
PANCHVATI
1ST LANE
GULBAL TEKRA ROAD AHMEDABAD. 380006
VERSUS
KAVITA DIDWANIA
W/O SRI KISHAN KUMAR DIDWANIA
KAMRUP CHAMBER ROAD
FACNY BAZAR
GUWAHATI-781001.
For the appellants : Mr. D. Saikia, Senior Advocate
Mr. B. Gogoi, Advocate
For the respondents : Mr. A. Goyal, Advocate
Page No.# 5/6
-BEFORE-
HON'BLE THE CHIEF JUSTICE MR. VIJAY BISHNOI
HON'BLE MR. JUSTICE N. UNNI KRISHNAN NAIR
03-03-2025
(Vijay Bishnoi, C.J.)
In these writ appeals, the judgment and order dated 06.09.2022 passed
by the learned Single Judge is under challenge.
Mr. D. Saikia, learned senior counsel appearing for the appellants submits
that the learned Single Judge has erred in observing that the Show-Cause
Notice issued to the respondent herein was a composite notice and, therefore, it
cannot be said to be a notice under Rule 4(1) of the Securities Exchange Board
of India (Procedure for Holding Enquiry and Imposing Penalties) Rules, 1995
(hereinafter to be referred as "1995 Rules"). It is also submitted that the
learned Single Judge has also erred in holding that in the present case no such
individual opinion has been formed as required under Rule 3 of the 1995 Rules.
It is further submitted that the learned Single Judge has erred in holding that
the individual opinion formed against the specific person, as required under Rule
3 of the 1995 Rules, is required to be provided to the noticee and in the present
case, the appellants have not provided the said material to the respondents.
Learned senior counsel for the appellants submits that the impugned
judgment and order passed by the learned Single Judge is contrary to the law,
as settled by the Hon'ble Supreme Court and, therefore, the judgment and order
impugned is liable to be interfered with.
Per contra, learned counsel for the respondents fairly submits that the
learned Single Judge has not committed any illegality in concluding that the
notice issued to the respondents is a composite notice and not a notice under
Page No.# 6/6
Rule 4(1) of the 1995 Rules and, therefore, the same is liable to be interfered
with. It is also submitted that the challenge made to the other observations and
findings of the learned Single Judge is also not tenable in view of the settled
position of law and, therefore, the judgment passed by the learned Single Judge
is not liable to be interfered with.
Having heard the learned counsel appearing for the parties and after
going through the material available on record, we are of the view that the
matter requires consideration.
Hence, admit.
However, it is noticed that WA 327/2022 is already admitted. Therefore,
the other connected writ appeals are admitted.
No need to issue formal notice as the respective respondents is already
represented.
List these appeals for hearing in the month of May, 2025.
Interim order passed by this Court on earlier occasion is made absolute till
final disposal of these appeals.
JUDGE CHIEF JUSTICE
Comparing Assistant
