Priya Ranjan Sah v. Securities And Exchange Board Of India And ANR.

10.

01-07-2025 (Ct. no.14) debajyoti

IN THE HIGH COURT AT CALCUTTA

Constitutional Writ Jurisdiction APPELLATE SIDE WPA 1758 of 2025 Priya Ranjan Sah Vs.

Securities and Exchange Board of India & Anr. Mr. Ritoban Sarkar, Mr. Sourat Nandy ... For the Petitioner.

Ms. Aasia Hasan ... For SEBI.

1.

Supplementary affidavit filed by the petitioner in Court today is taken on record. The order passed by the Recovery Officer & Dy. General Manager, Securities and Exchange Board of India (hereinafter 'SEBI'), Kolkata, on 30th May, 2025 is annexed therein.

2.

SEBI contends that the petitioner was delayed by a day in making payment. According to the petitioner, the payment was made within the stipulated time period.

3.

On hearing the parties, it appears that a single day's delay, if at all, may be condoned by the authority to save future efforts on the part of SEBI to conduct fresh auction for selling off the secured assets. Litigating for months together for condoning a day's delay, if any, in making payment does not appear to be worthwhile. The same is sure wastage of time, energy and money.

4.

To put at rest the issue of sale, SEBI is directed to accept the payment of the petitioner and take all necessary consequential steps in the matter.

5.

The order dated 30th May, 2025 passed by the Recovery Officer & Dy. General manager, SEBI, stands set aside.

6.

The writ petition stands disposed of.

7.

All parties shall act on the server copies of this order duly downloaded from the official website of this Court.

8.

Urgent photostat certified copies of this order, if applied for, be supplied to the parties on compliance of necessary formalities.

(Amrita Sinha, J.)