BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI DATE : 31.05.2019 Appeal No. 187 of 2019 Mr. Sarthak Vijlani A-423, Bonanza, Sahar Plaza Complex, J. B. Nagar, Andheri (East), Mumbai – 400 059. ….Appellant Versus Securities and Exchange Board of India SEBI Bhavan, Plot No. C-4A, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051. … Respondent Mr. Prakash Shah, Advocate with Mr. Chinmay Paradkar, Advocate i/b Prakash Shah & Associates for the Appellant. Mr. Akshay Patil, Advocate with Mr. Mihir Mody, Mr. Sushant Yadav, Mr. Tabish Mooman, Advocates i/b K. Ashar & Co. for the Respondent. CORAM : Dr. C. K. G. Nair, Member Justice M. T. Joshi, Judicial Member Per : Justice M. T. Joshi, Judicial Member (Oral)

1. Heard both sides. The learned counsel for the respondent

SEBI on instruction submitted that the contention of the appellant that there was no service of notice cannot be accepted. However, without prejudice to the contention of the SEBI that there was service of notice by affixing the same on the outer door of the last known residential address of the appellant, the case can be remitted back to the respondent SEBI for fresh hearing in the matter.

2. In these circumstances, the appeal is disposed of without any

order as to costs. The impugned order is quashed and set aside qua the appellant i.e Noticee No. 15. The Whole Time Member (hereinafter referred to as, ‘WTM’) is directed to grant an opportunity to the Noticee No. 15 to file a reply to the show cause notice and to deal with the matter in accordance with law. The appellant is directed to appear before the WTM on July 9, 2019. Sd/- Dr. C. K. G. Nair Member Sd/- Justice M. T. Joshi Judicial Member 31.05.2019 Prepared & Compared by PTM