Anil Beniprasad Agrawal vs SEBI & Another on 8 September 2026

BEFORE THE SECURITIES APPELLATE TRIBUNAL

MUMBAI

Date : 08.09.2026

Appeal No. 240 of 2019

(Along with Misc. Application No. 479 of 2019]

Anil Beniprasad Agrawal

…Appellant

Versus

Securities and Exchange Board of India & Anr.

…Respondents

Mr. Pesi Modi, Senior Advocate with Ms. Kalpana Desai and Ms. Afreen Thanevala, Advocates i/b Vis Legis Law Practice for the Appellant.

Respondent No. 1.

Mr. Mustafa Doctor, Senior Advocate with Mr. Rahul Lakhiani, Mr. Durgesh Khanapurkar and Mr. Kanish K. Verma, Advocates i/b Desai & Diwanji for Respondent No. 2.

WITH

Appeal No. 241 of 2019

Bharat N. Shiroya

…Appellant

Versus

Securities and Exchange Board of India & Anr. …Respondents

Mr. Neville Lashkari with Mr. Rushin Kapadia, Advocates i/b.

Mr. J.M. Bhalgat, Advocate for the Appellant.

Respondent No. 1.

Mr. Mustafa Doctor, Senior Advocate with Mr. Rahul Lakhiani, Mr. Durgesh Khanapurkar and Mr. Kanish K. Verma, Advocates i/b Desai & Diwanji for Respondent No. 2.

WITH

Appeal No. 242 of 2019

Annu Anil Agarwal

…Appellant

Versus

Securities and Exchange Board of India & Anr. …Respondents

Mr. Pradeep Sancheti, Senior Advocate with Ms. Pallavi Bali and Ms. Afreen Thanevala, Advocates i/b Vis Legis Law Practice for the Appellant.

Respondent No. 1.

Mr. Mustafa Doctor, Senior Advocate with Mr. Rahul Lakhiani, Mr. Durgesh Khanapurkar and Mr. Kanish K. Verma, Advocates i/b Desai & Diwanji for Respondent No. 2.

WITH

Appeal No. 243 of 2019

Amit Khemka

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Ashok Saraogi, Advocate for the Appellant.

Respondent.

WITH

Appeal No. 244 of 2019

(Along with Misc. Application No. 657 of 2022]

Chandrakala Purohit

…Appellant

Versus

Securities and Exchange Board of India & Anr. …Respondents

Ms. Rinku Valanju and Ms. Hiral Shah, Advocates i/b R V Legal for the Appellant.

Respondent No. 1.

Mr. Mustafa Doctor, Senior Advocate with Mr. Rahul Lakhiani, Mr. Durgesh Khanapurkar and Mr. Kanish K. Verma, Advocates i/b Desai & Diwanji for Respondent No. 2.

WITH

Appeal No. 363 of 2019

Jugal C. Thacker

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Ms. Rinku Valanju and Ms. Hiral Shah, Advocates i/b R V Legal for the Appellant.

Respondent.

WITH

Appeal No. 395 of 2020

Shri Jugal Chandrakant Thacker

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Ms. Rinku Valanju and Ms. Hiral Shah, Advocates i/b R V Legal for the Appellant.

Respondent.

WITH

Appeal No. 396 of 2020

Shri Bharat Nanubhai Shiroya

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Neville Lashkari with Mr. Rushin Kapadia, Advocates i/b.

Mr. J.M. Bhalgat, Advocate for the Appellant.

Respondent.

WITH

Appeal No. 403 of 2020

Annu Anil Agarwal

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Pradeep Sancheti, Senior Advocate with Ms. Pallavi Bali and Ms. Afreen Thanevala, Advocates i/b Vis Legis Law Practice for the Appellant.

Respondent.

WITH

Appeal No. 459 of 2020

Comfort Intech Limited

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Ms. Kalpana Desai with Ms. Afreen Thanevala, Advocates i/b Vis Legis Law Practice for the Appellant

Respondent.

WITH

Appeal No. 467 of 2020

Comfort Securities Limited

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Pesi Modi, Senior Advocate with Ms. Kalpana Desai and Ms. Afreen Thanevala, Advocates i/b Vis Legis Law Practice for the Appellant.

Respondent.

WITH

Appeal No. 481 of 2020

JJ Fincap Pvt. Ltd.

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Rajesh Khandelwal, Advocate i/b Juris Link for the Appellant.

Respondent.

WITH

Appeal No. 526 of 2020

(Along with Misc. Application No. 675 of 2021]

Anil Beniprasad Agrawal

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Pesi Modi, Senior Advocate with Ms. Kalpana Desai and Ms. Afreen Thanevala, Advocates i/b Vis Legis Law Practice for the Appellant.

Respondent.

WITH

Appeal No. 054 of 2021

(Along with Misc. Application Nos. 767 & 972 of 2021

And Misc. Application No. 657 of 2022]

Smt. Chandrakala Purohit

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Ms. Rinku Valanju, Advocate i/b R V Legal for the Appellant.

Respondent.

WITH

Appeal No. 056 of 2021

Shri Amit Khemka

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Ashok Saraogi, Advocate for the Appellant.

Respondent.

WITH

Appeal No. 181 of 2021

(Along with Misc. Application No. 888 of 2021]

Vibhuti Multi Trade Private Limited

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Respondent.

WITH

Appeal No. 424 of 2021

Ravi Kumar Distilleries & Ors.

…Appellant

Versus

Securities and Exchange Board of India & Anr. …Respondents Mr. Mustafa Doctor, Senior Advocate with Mr. Rahul Lakhiani, Mr. Durgesh Khanapurkar and Mr. Kanish K. Verma, Advocates i/b. Desai & Diwanji for the Appellant

Respondent.

Mr. Rahul Lakhiani with Mr. Durgesh Khanapurkar and Ms. Huzan Bhumgara, Advocates i/b Desai & Diwanji for the Respondent Nos. 2.

WITH

Appeal No. 611 of 2021

(Along with Misc. Application No. 889 of 2021]

Suvidha Securities Private Limited

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Ms. Rinku Valanju and Ms. Hiral Shah, Advocates i/b R V Legal for the Appellant.

Respondent.

AND

Appeal No. 1005 of 2022

Comfort Securities Limited

…Appellant

Versus

Securities and Exchange Board of India

…Respondent

Mr. Kushal Shah, CA with Dr. Keyur Shah, Advocate i/b Prakash Shah & Associates for the Appellant.

Respondent.