Securities Appellate Tribunal
MS. SHALINI SUSHIL JAIN & Others vs Whole Time Member, SEBI on 11 September 2026
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 11.09.2026
Appeal No. 299 of 2026
Ms. Shalini Sushil Jain & Ors.
….. Appellants
Versus
Securities & Exchange Board of India
… Respondent
Mr. Jitendra Sharda, Advocate 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, be filed within three weeks thereafter.
3. Learned advocate for the appellants submitted that the appellant’s case is similar to Nilratan Suppliers Private Limited v. SEBI (Appeal No. 282 of 2026) and similar order may be passed in this case. He further submitted that appellants have paid full penalty of Rs. 5 Lakhs.
4. There shall be stay of the impugned order. The penalty amount shall be placed in an interest-bearing account.
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5. 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
Dr. Dheeraj Bhatnagar Technical Member 11.09.2026 PTM
MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2026.09.11 15:38:53 +05'30'