Securities Appellate Tribunal
Jignesh SUDHIRBHAI shah vs Securities and Exchange Board of India on 5 October 2026
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 05.10.2026
Appeal No. 318 of 2026
And
Misc. Application No. 951 of 2026
And
Misc. Application No. 952 of 2026
And
Misc. Application No. 953 of 2026
Mr. Jignesh Sudhirbhai Shah
….. Appellant
Versus
Securities and Exchange Board of India
… Respondent
Mr. Kunal Katariya, Advocate with Ms. Akansha Jain, PCS for the Appellant.
Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Nidhi Faganiya, Ms. Komal Shah, Mr. Arav Doss, Ms. Sanjana Kumari, Advocates i/b Vidhii Partners for the Respondent.
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ORDER :-
1. Exemption Application bearing Misc. Application No. 953 of 2026 is allowed and disposed of.
2. For the reasons stated therein, the application for condonation of delay is allowed. Delay of 39 days is condoned and Misc. Application No. 952 of 2026 is disposed of.
3. Admit.
4. Respondent is allowed six weeks to file reply. Rejoinder, if any, be filed within three weeks thereafter.
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5. Mr. Kunal Katariya, learned advocate for the appellant submits that without prejudice to appellant’s rights and contentions, the appellant desires to deposit the full penalty amount with a request to keep the same in an interest bearing account. Ordered accordingly.
6. Appellant does not press for interim relief with liberty to mention, if need arises.
7. Call on December 9, 2026 along with Appeal No. 238 of 2026.
Justice P.S. Dinesh Kumar Presiding Officer
Ms. Meera Swarup Technical Member
Dr. Dheeraj Bhatnagar Technical Member 05.10.2026 VPM MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2026.10.07 12:37:56 +05'30'