Securities Appellate Tribunal
Vedprakash Chiripal & Another vs Securities and Exchange Board of India on 7 September 2026
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date : 07.09.2026
Appeal No. 281 of 2026
And
Misc. Application No. 826 of 2026
Vedprakash Chiripal & Anr.
….. Appellants
Versus
Securities and Exchange Board of India
… Respondent
Mr. Vinay Chauhan, Advocate with Ms. Prapti Prajapati, Advocate i/b Triad Law Chambers for the Appellants.
Mr. Sumit Rai, Advocate with Ms. Nidhi Singh, Ms. Komal Shah, Advocates i/b Vidhii Partners for the Respondent.
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ORDER :-
1. Admit.
2. Respondent is allowed six weeks to file reply. Rejoinder, if any, within three weeks thereafter.
3. Mr. Vinay Chauhan, learned advocate for the appellant submitted that this appeal falls in the batch of appeals pending before this Tribunal concerning Vishal Fabric scrip. He submitted that appellant was not restrained at the stage of ex-parte interim order cum show cause notice. Appellant has traded on only one day i.e. March 26, 2020. He submitted that appellant undertakes to deposit full penalty amount and prayed for stay of the impugned order.
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4. We have heard Mr. Sumit Rai, learned advocate for the respondent on the interim order.
5. In similar cases in the batch concerning Vishal Fabric scrip, we have granted interim relief subject to deposit of full penalty.
6. There shall be stay of the impugned order subject to deposit of full penalty within four weeks from today and the same shall be kept in an interest bearing account.
7. Stay Application Misc. Application No. 826 of 2026 is disposed of.
8. As prayed by Mr. Rai, post this appeal along with Appeal No. 238 of 2026 on December 9, 2026.
Justice P.S. Dinesh Kumar Presiding Officer
Ms. Meera Swarup Technical Member
07.09.2026 PTM MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2026.09.08 12:58:36 +05'30'