Securities Appellate Tribunal
NARENDRA SINGH THAKUR vs PANEL OF RECOVERY OFFICERS, SECURITIES EXCHANGE BOARD OF INDIA on 12 October 2026
IN THE SECURITIES APPELLATE TRIBUNAL AT
MUMBAI
DATED THIS THE 12TH DAY OF OCTOBER, 2026
CORAM : Justice P. S. Dinesh Kumar, Presiding Officer Ms. Meera Swarup, Technical Member Dr. Dheeraj Bhatnagar, Technical Member
Appeal No. 347 of 2026
And
Misc. Application No. 926 of 2026
And
Misc. Application No. 927 of 2026
Between
Narendra Singh Thakur
Village – Marbodi,
Tehsil & District Seoni,
Madhya Pradesh – 480 882.
…. Appellant
By Mr. Jaydeep Singh Bais, Advocate with Mr. Shivendra Singh Sisodiya, Advocate for the Appellant.
And
Securities and Exchange Board of India
Through its Panel of Recovery Officers
SEBI Bhavan, Plot No. C-4A, G Block,
Bandra Kurla Complex, Bandra (East),
Mumbai - 400 051.
…. Respondent
By Mr. Mihir Mody, Advocate with Mr. Vijay Chockalingam, Mr. Aavish Shetty, Mr. Sudhanshuman Naruka, Mr. Vignesh Narayanan, Advocates i/b. M/s. K. Ashar & Co. for the Respondent.
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THIS APPEAL IS FILED UNDER SECTION 15T OF SEBI
ACT, 1992 TO SET ASIDE ORDER DATED AUGUST 24, 2026 (EX-A) PASSED BY RECOVERY OFFICER, SEBI.
THIS APPEAL COMING ON FOR HEARING THIS 12TH
DAY OF OCTOBER 2026, THIS TRIBUNAL PASSED THE
FOLLOWING:
O R D E R
Per : Justice P. S. Dinesh Kumar, Presiding Officer (Oral)
At the outset, Mr. Mihir Mody, learned Advocate for the respondent - SEBI raised a preliminary objection that the properties in question has not been attached in the Justice (Retd.) R. M. Lodha Committee proceedings.
2. Mr. Shivendra Singh Sisodiya, learned Advocate for the appellant submitted that appellant would be satisfied if Mr. Mody’s submission is placed on record and the matter is disposed of.
3. Mr. Mody, on instructions, reaffirms that the properties mentioned in paragraph No. 24 of the impugned order and listed herein below have not been attached in the proceedings before Justice (Retd.) R. M. Lodha Committee.
“Properties comprised in Khasra No. 687 (0.40 hectares) and Khasra No. 690/2 (1.82 hectares), total admeasuring 2.22 hectares situated at Village Marbodi, Bandol Tehsil, District Seoni, Madhya Pradesh.”
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4. Nothing further survives in this appeal. The appeal is disposed of by placing the submission of the learned Advocate for the respondent on record.
5. Pending interlocutory application(s), if any, stand disposed of.
No costs.
Justice P.S. Dinesh Kumar Presiding Officer
Ms. Meera Swarup Technical Member
Dr. Dheeraj Bhatnagar Technical Member 12.10.2026 VPM MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2026.10.15 15:09:12 +05'30'
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