TMI Blog2014 (8) TMI 1166X X X X Extracts X X X X X X X X Extracts X X X X ..... Adjudication proceedings, if a party relies on adjudication order passed in an another case, then, judicial discipline demands that the Adjudicating Officer considers that order and thereafter passes an order either to follow or distinguish the earlier order or disagree with the order by recording reasons as to how that order is erroneous and ought not to be followed. In the present case, the Adjudicating Officer has flatly declined to consider the order passed by another Adjudicating Officer on ground that such an order does not have binding effect and that he would prefer to form an independent view. Unless facts and circumstances set out in an order passed by Adjudicating Officer are materially different from the facts and circumstanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n order dated November 27, 2013 passed by an Adjudicating Officer. In this regard, I note that the decision of another Adjudicating Order may not have any binding effect on me and I would, rather, prefer to form an independent view considering the merits of the matter. Therefore, I have not considered the same while arriving at any conclusion in the facts and circumstances of the instant case before me. 4. In our opinion, refusal on the part of the Adjudicating Officer to consider decision of another Adjudicating Officer of SEBI is highly improper. Orders passed by the Adjudicating Officers' of SEBI are quasi judicial orders where the adjudicating authority is required to consider the rights and obligations of charged persons and im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... umstances set out in an order passed by Adjudicating Officer are materially different from the facts and circumstances of the case in hand, it would be just and proper for the Adjudicating Officer to follow the earlier order so that there is uniformity in the quasi judicial orders passed by the Adjudicating Officers' of SEBI. 7. In the present case, since the Adjudicating Officer of SEBI has committed impropriety of refusing to consider the decision of another Adjudicating Officer which according to the Appellant has direct bearing on the facts of present case, without going into the merits of the case we set aside the impugned order and direct SEBI to pass fresh order by entrusting the matter to any Adjudicating Officer other than t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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