IN THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Review Petition No. 9 of 2006
in
Appeal No: 215 of 2004
Date of Decision 28/08/2006
Ramaben Samani Finance Pvt. Ltd.
…..Applicant - Appellant
Versus
Securities & Exchange Board of India
….Respondent
Mr. Bharat Merchant, Advocate for the applicant - appellant
Dr. Poornima Advani, Advocate for the respondent.
CORAM
Justice N.K. Sodhi, Presiding Officer
C. Bhattacharya, Member
Per: Justice N.K. Sodhi, Presiding Officer (Oral)
This application has been filed seeking review of our dated 12/05/2006 dismissing a bunch of appeals including Appeal no. 215 of 2004 filed by the applicant. The review application deserves to be dismissed on the short ground that the applicant has filed an appeal in the Supreme Court under Section 15Z of the Securities and Exchange Board of India Act, 1992. This apart, the learned counsel for the applicant states that the order deserves to be reviewed because the Board while issuing the fee liability statement had not applied the correct rate of fee applicable in terms of sub-clause (bb) of clause (1) of paragraph I to Schedule III of the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992. We cannot entertain this plea in a review petition because no such plea was raised when the appeal was heard and disposed of along with the other appeals.
In the result, the review application fails and the same is dismissed.
Sd/-Justice N.K. SodhiPresiding OfficerSd/-R.N.BhardwajMember