Priya Ranjan Sah Vs Securities and Exchange Board of India & Anr (Calcutta High Court)
Calcutta High Court has instructed the Securities and Exchange Board of India (SEBI) to accept a payment from Priya Ranjan Sah, despite a dispute over a single day’s delay. The court’s ruling sets aside an order issued by SEBI’s Recovery Officer and Deputy General Manager dated May 30, 2025, which had seemingly rejected the payment.
During the hearing, SEBI contended that the petitioner’s payment was delayed by one day, while the petitioner maintained it was made within the stipulated timeframe. The High Court, observing the minor nature of the alleged delay, noted that “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.”
To prevent further litigation and the need for SEBI to conduct a fresh auction of secured assets, the court explicitly directed SEBI to accept Sah’s payment and undertake all necessary consequential actions. This decision underscores the judiciary’s pragmatic approach in avoiding prolonged legal battles over minor procedural infractions, particularly when such disputes result in unnecessary expenditure of resources for both parties and the regulatory body.
