Asha Nikam vs NSEIL on 6 October 2026

IN THE SECURITIES APPELLATE TRIBUNAL

AT MUMBAI

Date: 06.10.2026

Asha Nikam

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 188 of 2025

[Along with Misc. Application Nos. 258 and 259 of 2025]

Vaibhav Vijay Petkar

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 189 of 2025

[Along with Misc. Application Nos. 260 and 261 of 2025]

Gauri Madiwale

…Appellant

Versus

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 190 of 2025

[Along with Misc. Application Nos. 262 and 263 of 2025]

Shweta Anand

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Srinivas Mahadevaiah

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Susan Agnelo Mendes

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Ramasubramanian Sankar

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Rashmi Dsouza

…Appellant

Versus

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Vildon Victor Butelho

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Melroy Rodrigues

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Olga A Pereira

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Manisha Anand Dsilva

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 199 of 2025

Archana Yaswant Surve

…Appellant

Versus

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Hasmukhlal Manilal Shah

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Jagadheeswara Raju Vysyaraju

…Appellant

Versus

Anugrah Stock and Broking Pvt. Ltd. And Ors.…Respondents Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

Agrawal for the Appellant.

Mr. Ravishekhar Pandey a/w. Ms. Sanskriti Sharma i/b Agama Law Associates for Respondent-SEBI.

WITH

Appeal No. 229 of 2025

[Along with Misc. Application Nos. 521 and 735 of 2025]

Usha Vijay Ubale

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Sumitra Mahendra Ashar

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Audsley Dmello

…Appellant

Versus

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 232 of 2025

[Along with Misc. Application Nos. 723 and 525 of 2025]

Wenzell Dmello

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Cedric Adrian Dsouza

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Janice Maria Braganza

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 235 of 2025

[Along with Misc. Application Nos. 268 and 269 of 2025]

Bharat Atmaram Tandel

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 237 of 2025

[Along with Misc. Application Nos. 277 and 278 of 2025]

Subbharaman Sunderasan

…Appellant

Versus

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 238 of 2025

[Along with Misc. Application Nos. 572 and 573 of 2025]

Jolly Thomas Vithayathil

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 264 of 2025

[Along with Misc. Application Nos. 619 and 620 of 2025]

Shanmugam Padmavathy

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 265 of 2025

[Along with Misc. Application Nos. 617 and 618 of 2025]

Bimal Kirit Mistry

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

WITH

Appeal No. 293 of 2025

[Along with Misc. Application Nos. 647 and 803 of 2025]

Shindes Medicare Hospital Pvt. Ltd.

…Appellant

Versus

National Stock Exchange of India Limited …Respondent

Mr.

Saurabh

Bachawat,

Advocate

with

FCA

Kamal

AND

Appeal No. 306 of 2025

[Along with Misc. Application Nos. 727, 728, 729 of 2025

and 413 of 2026]

Naresh P. Shah

…Appellant

Versus

Ms. Rinku Valanju, Advocate i/b R V Legal for the Appellant.