Securities Appellate Tribunal
ANIL N PACHOLI vs Securities and Exchange Board of India on 9 September 2026
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 09.09.2026
Appeal No. 272 of 2026
And
Misc. Application No. 784 of 2026
Anil N. Pacholi
….. Appellant
Versus
Securities & 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. Mr. Manish Chhangani, learned advocate for the SEBI submits that this is an Illiquid Stock Option matter.
2. Post this appeal along with Appeal No. 183 of 2026 (Kamlesh Ahuja Vs. SEBI) on 15.12.2026. In the meantime, 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 11:14:06 +05'30'