PINKI CHANDRA GHOSE, J. - (1.) Civil Appeal No. 5865 of 2006 We have heard learned counsel appearing for the parties at considerable length.
(2.) It appears that the only question in this matter is whether the Adjudicating Officer under Section 15A of the Securities and Exchange Board of India Act, 1992 is authorized to impose penalty on the ground that the documents which has been asked for has been furnished are false or whether power of the Adjudicating Officer to impose penalty is limited and can be exercised only in the event of failure to furnish documents.
(3.) We have perused the order passed by the Adjudicating Officer. It appears from the order which was passed that the Adjudicating Officer had specifically stated in para 31 "that the appellant has already furnished the materials which are available on record". Since the materials have already been furnished, in our opinion, the said Section is attracted on the given facts.;