Securities Appellate Tribunal
NIHON SALES PRIVATE LIMITED & Another vs Ld. Quasi Judicial Authority, Securities and Exchange Board of India on 4 September 2026
IN THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 04.09.2026
Appeal No. 288 of 2026
[Along with Misc. Application Nos. 791, 792 and 811 of
Nihon Sales Private Limited and Anr.
…Appellants
Versus
Securities and Exchange Board of India …Respondent
Mr. Saakshat Relekar, Advocate 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:
Exemption application bearing Misc. Application No. 811 of 2026 is allowed and 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. 792 of 2026 is disposed of.
4. Respondent is allowed six weeks to file reply. Rejoinder, if any, be filed within three weeks thereafter.
5. Learned advocate for the appellants submits that the debarment period has already expired.
6. There shall be stay of recovery subject to deposit of 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. 791 of 2026 is disposed of.
7. 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 16:05:13 +05'30'