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2015 (4) TMI 517 - AT - Companies LawRecovery certificate issued by SEBI on the basis of provisional liability - Notice to NSE to adjust from the deposit of the appellant - Held that:- Basic grievance of the appellant is that the recovery certificate has been issued on the basis of provisional liability statement dated August 25, 2004 and without considering the auditors certificate furnished on April 5, 2002 and again on April 30, 2004. Since SEBI has issued fee liability statement on March 14, 2005 and April 20, 2005 subsequent to the appellant furnishing auditors certificate, it is evident that the said fee liability statements dated March 14, 2005 and April 20, 2005 constitute final fee liability statement. Moreover, it is relevant to note that challenging the provisional fee liability statement dated August 25, 2004 (served on September 2, 2004) as also the final fee liability statement drawn up by SEBI on March 14, 2005 and April 20, 2005, appellant had filed Appeal No. 158 of 2012 with Misc. Application seeking condonation of delay before this Tribunal inter alia alleging that the fee liability statement has been issued without considering the arguments raised on behalf of the appellant. On August 22, 2012 this Tribunal declined to condone the delay and accordingly the appeal filed by the appellant was dismissed. Thereupon, appellant filed Civil Appeal Nos. 8472-8474 of 2012 before the Apex Court which was dismissed as withdrawn on January 14, 2013. Thus, the fee liability of appellant as per fee liability statement attained finality. The appellant has filed the present appeal in gross abuse of the process of law. The recovery certificate was issued based on the fee liability statement dated August 25, 2004, March 14, 2005 and April 20, 2005 which were all served on the appellant. Moreover, appellant had repeatedly challenged those fee liability statements of SEBI by initiating proceedings one after the other and all those proceedings have been either dismissed or allowed to be withdrawn by this Tribunal / Apex Court. - Decided against the appellant.
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