2025 (3) TMI 854

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he present petition is with respect to order dated 17.10.2023, passed by Securities Appellate Tribunal whereby the appeal filed by the petitioner herein has been dismissed on the point of limitation. Along with the aforesaid appeal, the appellant had filed an application under Section 5 of Limitation Act, 1963 as there was a delay of 188 days in filing such appeal and the learned Tribunal, after considering the entire matter, held that such application lacked merit, and consequently, while rejecting the application, the appeal was also dismissed. 3. Such order dated 17.10.2023 is under challenge. 4. Admittedly, as per Section 15Z of Securities and Exchange Board of India Act, 1992 (SEBI Act), any person aggrieved by any such decision of t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... unsel was taken as "due service" upon the appellant. It is contended that if petitioner is of the view that such service is not valid service or sufficient service in the eyes of law, it itself becomes a question of law and, therefore, in terms of Section 15Z of SEBI Act, 1992, an appeal can lie before the Hon'ble Supreme Court, provided it is filed within the time stipulated therein. He also supplements that in such a situation recourse to Article 226 and 227 of Constitution of India is not permissible. 8. Admittedly, the sole question raised in the present petition, inter alia, revolves around the fact that whether the service upon the counsel can be said to be a valid service in the eyes of law or not? 9. Assuming for a moment that the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ich itself prescribes the remedy or procedure for enforcing the right or liability, resort must be had to that particular statutory remedy. The relevant portion of the said judgment reads as under: - "27.3. Exceptions to the rule of alternate remedy arise where : (a) the writ petition has been filed for the enforcement of a fundamental right protected by Part III of the Constitution; (b) there has been a violation of the principles of natural justice; (c) the order or proceedings are wholly without jurisdiction; or (d) the vires of a legislation is challenged." 13. Here, no such exceptional situation exists. 14. There is also nothing to indicate or suggest violation of principles of natural justice or non-compliance of statu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X