Securities Appellate Tribunal
Rita R Thakkar vs SEBI on 9 September 2026
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 09.09.2026
Appeal No. 35 of 2026
And
Misc. Application No. 135 of 2026
And
Misc. Application No. 136 of 2026
And
Misc. Application No. 137 of 2026
And
Misc. Application No. 419 of 2026
Rita R Thakkar
….. Appellant
Versus
Securities and Exchange Board of India
…Respondent
Mr. Vikas Bengani, Advocate for the Appellant.
Mr. Manish Chhangani, Advocate with Mr. Sumit Yadav, Mr. Karthik K.P, Mr. Devya Shah, Advocates i/b The Law Point for the Respondent.
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ORDER:
1. Exemption Application, Misc. Application No. 137 of 2026 is allowed and disposed of.
2. Delay in filing the reply is condoned. Misc. Application No. 419 of 2026 is disposed of.
3. Mr. Manish Chhangani, learned advocate for the SEBI submits that this is an Illiquid Stock Option matter and the penalty of Rs. 2.02 Lakhs has been recovered. Accordingly, Misc. Application No. 136 of 2026 is disposed of. We direct that the bank account shall be de-frozen.
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4. Post this appeal along with Appeal No. 183 of 2026 (Kamlesh Ahuja Vs. SEBI) on 15.12.2026. In the meantime, further recovery shall remain stayed.
Justice P. S. Dinesh Kumar Presiding Officer
Ms. Meera Swarup Technical Member
Dr. Dheeraj Bhatnagar Technical Member
09.09.2026 VPM MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2026.09.11 11:13:21 +05'30'