Choice Equity Broking Private Limited vs SEBI on 21 October 2026

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI

Date: 21.10.2026

Appeal No. 544 of 2023

Choice Equity Broking Pvt. Ltd. .... Appellant

Versus

Securities and Exchange Board of India … Respondent

i/b Mindspright Legal for the Appellant.

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 545 of 2023

Yogesh Shrinivas Jadhav .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 546 of 2023

Babita Ajay Kejriwal .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 547 of 2023

Sangita Ramratan Chirania .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 548 of 2023

Vinita Sunil Patodia .... Appellant

Versus

Securities and Exchange Board of India … Respondent

i/b Mindspright Legal for the Appellant.

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 549 of 2023

Kamal Santosh Poddar & Ors. .... Appellants

Versus

Securities and Exchange Board of India … Respondent

i/b Mindspright Legal for the Appellants.

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 550 of 2023

Anil Chothmal Patodia & Ors. .... Appellants

Versus

Securities and Exchange Board of India … Respondent

i/b Mindspright Legal for the Appellants.

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 551 of 2023 And Misc. Application No. 236 of 2024

Satyashakambari Securities Pvt. Ltd. .... Appellant

Versus

Securities and Exchange Board of India … Respondent and

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 552 of 2023 And Misc. Application No. 237 of 2024

Kamlesh Dharmdutt Dave & Ors. .... Appellants

Versus

Securities and Exchange Board of India … Respondent

and Ms. Vedica Gaggar, Ms. Vedika Sharma, Ms. Payal Lad, Advocates i/b A Kankani & Associates for the Appellants.

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 553 of 2023 And Misc. Application No. 238 of 2023

Akashdeep International Pvt. Ltd. .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Anand Kankani, CS with Ms. Muskan Kadiwar, CS and

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 554 of 2020 And Misc. Application No. 239 of 2024

Zenith Speciality Pvt. Ltd. .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Anand Kankani, CS with Ms. Muskan Kadiwar, CS and

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 555 of 2023 And Misc. Application No. 240 of 2024

Bhageria Trade Invest Pvt. Ltd. .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Anand Kankani, CS with Ms. Muskan Kadiwar, CS and

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 556 of 2023 And Misc. Application No. 241 of 2024

Reform Trading Co. Pvt. Ltd. .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Anand Kankani, CS with Ms. Muskan Kadiwar, CS and

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 557 of 2023 And Misc. Application No. 242 of 2024

Prism Scan Express Pvt. Ltd. .... Appellant

Versus

Securities and Exchange Board of India … Respondent

and

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 558 of 2023 And Misc. Application No. 243 of 2024

Futurage Corporate Care Pvt. Ltd. .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Anand Kankani, CS with Ms. Muskan Kadiwar, CS and

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 559 of 2023

Dinesh Vishambharlal Bhageria & Ors. .... Appellants

Versus

Securities and Exchange Board of India … Respondent

i/b Ragini Singh Associates for the Appellants.

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 560 of 2023

Govind Ram Patodia .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 561 of 2023

Natwarlal Patodia .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 562 of 2023

Satyanarayan Patodia ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 563 of 2023

Manju Devi Patodia ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 564 of 2023

Rajendra Radhakishanji Upadhyaya ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 565 of 2023

Pawan C. Agarwal ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 566 of 2023

Prabhu Dayal Chawla ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 567 of 2023

Bikram Keshari Mohanty ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 600 of 2023 And Misc. Application No. 1222 of 2023

Gaurav Modi ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 601 of 2023

Sunita Modi ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 602 of 2023

Kirodi Mal Modi ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 603 of 2023

Karun Modi ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 650 of 2023 And

And Misc. Application No. 244 of 2024

Manjula Vinod Lohia .... Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Anand Kankani, CS with Ms. Muskan Kadiwar, CS and

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 661 of 2023 And Misc. Application No. 245 of 2024

HIFI Trading Pvt. Ltd. ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 779 of 2023

Paath Financial Services Pvt. Ltd. ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 780 of 2023 And

Chartered Capital Research Pvt. Ltd. ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 781 of 2023

Azura Projects Pvt. Ltd. ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

With Appeal No. 782 of 2023

Florence Securities Pvt. Ltd. ….. Appellant

Versus

Securities and Exchange Board of India … Respondent

Mr. Sumit Yadav, Advocate with Ms. Khushbu Trivedi, Advocate i/b MDP Legal for the Respondent.

ORDER :-

1. Mr. Anand Kankani, learned authorized representative for the appellants prays for fixed time slot.

2. Call on January 5, 2027 at 2:30 p.m.

Justice P.S. Dinesh Kumar Presiding Officer

Ms. Meera Swarup Technical Member

Dr. Dheeraj Bhatnagar Technical Member 21.10.2026 VPM MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2026.10.23 12:19:46 +05'30'