Securities Appellate Tribunal
Droneacharya Aerial Innovations & Others vs SEBI on 19 December 2025
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date: 19.12.2025
Appeal No. 549 of 2025
And
Misc. Application No. 1370 of 2025
Droneacharya Aerial Innovations & Ors.
…Appellants
Versus
Securities and Exchange Board of India
…Respondent
Mr. Vedchetan Patil, Advocate for the Appellants.
Mr. Chetan Kapadia, Senior Advocate with Mr. Suraj Chaudhary, Mr. Nitin Jain, Mr. Ravi Shekar Pandey, Mr.
Rushikesh Dusane, Advocates i/b Agama Law Associates for the Respondent.
ORDER :
1. Admit. Respondent is allowed four weeks time to file reply. Rejoinder be filed within two weeks thereafter.
2. There shall be stay of recovery subject to deposit of 50% of the penalty within four weeks from today.
3. Learned advocate for the appellants submitted that there is some urgency in the matter.
4. By consent, call on February 12, 2026.
Justice P. S. Dinesh Kumar Presiding Officer
Dr. Dheeraj Bhatnagar Technical Member 19.12.2025 PTM MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2025.12.19 18:09:58 +05'30'
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