Securities Appellate Tribunal
Oriental Trimex Ltd. & Others vs SEBI on 16 October 2026
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date : 16.10.2026
Appeal No. 123 of 2026
[Along with Misc. Application Nos. 600 & 735 of 2026]
Oriental Trimex Ltd. & Ors.
…Appellants
Versus
Securities and Exchange Board of India
…Respondent
Mr. Vinay Chauhan, Advocate and CA Sandeep Manaktala, Authorized Representative for Appellants.
Mr. Sumit Rai with Ms. Prapti Kedia and Mr. Sanskriti Sharma, Advocates i/b Agama Law Associates for the Respondent.
WITH
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[Along with Misc. Application Nos.601 & 736 of 2026]
Jitendra Surendra Gupta & Anr.
…Appellants
Versus
Securities and Exchange Board of India
…Respondent
CA Sandeep Manaktala, Authorized Representative for the Appellant.
Mr. Sumit Rai with Ms. Prapti Kedia and Mr. Sanskriti Sharma, Advocates i/b Agama Law Associates for the Respondent.
AND
Appeal No. 126 of 2026
[Along with Misc. Application No. 602 & 737 of 2026]
Mirage Marble Pvt. Ltd. & Ors.
…Appellants
Versus
…Respondent
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CA Sandeep Manaktala, Authorized Representative for the Appellant.
Mr. Sumit Rai with Ms. Prapti Kedia and Mr. Sanskriti Sharma, Advocates i/b Agama Law Associates for the Respondent.
ORDER:
Heard Mr. Vinay Chauhan, learned Advocate for the appellant. Delay in filing reply by SEBI and delay in filing rejoinder by Appellants are condoned. Misc. Application Nos. 600, 601, 602, 735, 736 and 737 of 2026 are disposed of.
2. Mr. Chauhan submitted that appellants had approached the Hon’ble Supreme Court of India challenging this Tribunal’s order on interim direction in Civil Appeal No. 13091/2026 and it has been disposed of on 05.10.2026. He submitted that appellant is ready and willing to deposit 50% of the penalty amount within four weeks and prays for interim order as prayed in paragraph 8(a) of the memorandum of appeal.
3. There shall be stay of recovery subject to deposit of 50% of the penalty amount within four weeks from today.
4. On instruction of Mr. Sandeep Manaktala, FCA, Mr. Chauhan submitted that appellant seeks leave to unconditionally withdraw the affidavit dated 30.07.2026 with liberty to file a fresh rejoinder. Mr. Sumit Rai has no objection.
5. Appellant is permitted to withdrawn the affidavit with liberty to file fresh Rejoinder within four weeks from today.
6. Call on 17.12.2026.
Justice P.S. Dinesh Kumar
Presiding Officer
Ms. Meera Swarup Technical Member
Dr. Dheeraj Bhatnagar Technical Member 16.10.2026 msb MADHUKAR BHALBAR Digitally signed by MADHUKAR BHALBAR Date: 2026.10.23 11:37:18 +05'30'
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