BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision: 26.09.2019 Misc. Application No. 490 of 2019 And Appeal No. 403 of 2019 Deepak Pandurang Vikhape Indian Inhabitant, A-7-B, Khotachiwadi, 1st Floor, Room No. 15, Girgaon, Mumbai400 004 …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. Santosh Thakur, Advocate for the Appellant. Ms. Anubha Rastogi, Advocate for the Respondent. CORAM: Justice Tarun Agarwala, Presiding Officer Dr. C.K.G. Nair, Member Justice M. T. Joshi, Judicial Member Per: Justice Tarun Agarwala (Oral) Misc. Application No. 490 of 2019 For the reasons stated in the application the delay in filing the appeal is condoned. The Misc. application is allowed. Appeal No. 403 of 2019

1. The Adjudicating Officer of the Securities and Exchange

Board of India (“SEBI” for convenience) by an order dated March 15, 2018 imposed a penalty of ` 2 lakh for violation of Regulation 13(1) and 13(3) read with Regulation 13(5) of the SEBI (Prohibition of Insider Trading) Regulations, 1992. The appellant preferred Appeal No. 152 of 2018 which was disposed of by this Tribunal by an order dated May 03, 2018 directing the appellant to deposit the entire penalty along with interest amount within the stipulated period. Since the amount was not deposited, the appellant was granted further three months time to deposit the penalty along with interest amount. Inspite of the aforesaid order, the amount was not deposited and, accordingly the bank account of the appellant was attached by an order dated June 26, 2019.

2. The appellant being aggrieved by the said attachment has

filed the present appeal.

3. The learned counsel for the appellant has placed a

Demand Draft of ` 2,28,550/- in favour of “SEBI Recovery Proceeds” and contends that the amount may be taken and the appeal may be disposed of accordingly. The Demand Draft is been handed over to learned counsel for the respondent Ms. Anubha Rastogi.

4. In view of the fact that, the penalty amount along with

interest has now been deposited, the appeal is disposed of with a direction to the Recovery Officer to withdraw the attachment of the bank account (salary) of the appellant at the earliest. Sd/- Justice Tarun Agarwala Presiding Officer Sd/- Dr. C.K.G. Nair Member Sd/- Justice M. T. Joshi Judicial Member 26.09.2019 Prepared & Compared By: PK