Securities Appellate Tribunal
Sidhant distributors private limited & Others vs Securities and Exchange Board of India on 4 September 2026
IN THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 04.09.2026
Appeal No. 283 of 2026
[Along with Misc. Application Nos. 799, 800 and 801 of
Sidhant Distributors Private Limited and Ors. …Appellants
Versus
Securities and Exchange Board of India
…Respondent
Mr. Neville Lashkari, Advocate i/b VRAJ Legal for Appellants.
Mr. Sumit Rai, Advocate with Mr. Mihir Mody, Mr. Vijay Chockalingam, Mr. Aavesh Shetty, Mr. Sudhanshuman Naruka and Mr. Vignesh Narayanan, Advocates i/b. M/s. K.
Ashar & Co. for the Respondent.
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ORDER:
The Misc. Application No. 799 of 2026 for urgency has worked for itself and it is accordingly disposed of.
2. Admit.
3. There is a delay of 116 days in the filing this appeal. For the reasons stated in the application, the delay in filing this appeal is condoned. The Misc. Application No.801 of 2026 is disposed of.
4. Mr. Neville Lashkari, learned advocate for the appellant does not press prayer clause 7(i), (iii), (iv), (v) and (vi). He submitted that appellant undertakes to deposit
50% penalty and prayed that the recovery of penalty may be stayed.
5. There shall be stay of prayer clause 7(ii) subject to deposit to 50% penalty within four weeks from today. If the said amount is deposited, the same shall be placed in an interest bearing account by SEBI. The Stay Application, Misc. Application No. 800 of 2026 is disposed of.
6. Call on November 19, 2026 along with Appeal No. 132 of 2026.
Justice P. S. Dinesh Kumar Presiding Officer
Ms. Meera Swarup Technical Member
Dr. Dheeraj Bhatnagar Technical Member 04.09.2026 PK PRERNA MANISH KHARE Digitally signed by PRERNA MANISH KHARE Date: 2026.09.07 16:08:29 +05'30'