Ballabh Dass Daga v. Sebi

04.03.2021 SB Ct. No.32 CRR 2967 of 2018 CRAN 4 of 2019 (not in file) CRAN 5 of 2020 In the matter of :Ballabh Dass Daga Mr. Tarique Quasimuddin Mr. Abbas Ibrahim Khan .... For the Petitioner Mr. Prasanta Kumar Dutt Mr. Sourav Chatterjee Mr. Susanta Kumar Dutt Mr. Syamantak Banerjee ....For SEBI This is an application challenging an order dated 04.09.2018 passed by the learned Judge, 5th Special Court, Calcutta in Case No. SEBI / 42/2017 under Sections 24, 26A, 26B and 26E of the Securities of Exchange Board of India Act, thereby rejecting the prayer for compounding the offences under Section 24A of the said Act.

Learned counsel appearing on behalf of the petitioner submits as follows. During pendency of this application, the petitioner was convicted for the alleged offences and sentenced to suffer imprisonment till the rising of the Court and to pay a fine. The petitioner pleaded guilty and suffered the sentence. As such, the present application has become infructuous and the same may accordingly be disposed of.

Learned counsel appearing on behalf of the SEBI supports the contentions of the learned counsel for the petitioner that the petitioner has already suffered the sentence and the present application may accordingly be disposed of.

On the prayer of the learned counsel for the petitioner, the revisional application is disposed of as infructuous. All connected applications stand disposed of. Urgent photostat certified copy of this order, if applied for, is to be given to the parties upon usual undertakings. (Jay Sengupta, J.)