Fiidex Industries Limited & Others vs SEBI on 27 October 2026

ORDER :

We have heard Mr. Kunal Katariya, learned advocate for the applicant (original appellant) and Mr. Chetan Kapadia, learned Senior Advocate for the Respondent.

2. Mr. Katariya submitted that Misc. Application No. 770 of 2026 is not listed today and the same may be taken on board and disposed of.

3. Misc. Application No.

of

seeking condonation of delay in filing the reply by SEBI is allowed and disposed of.

4. Detailed submissions were made by Mr. Katariya, learned advocate for the applicant. In substance, applicant’s case is that he has complied with the order passed by this Tribunal by making the deposit of Rs.2.47 Crore in the bank account of Appellant No.1 and Rs.3 Lakhs in the bank account of Appellant No. 2. Thus, SEBI’s order has been fully complied with.

5. Mr. Kapadia, learned Senior Advocate for SEBI contested the applicant’s contention. At this stage, Mr. Katariya sought leave of this Tribunal to withdraw these applications with liberty to approach SEBI to make detailed representation and to substantiate as to how SEBI’s order has been complied with. Leave granted.

6. Applications are dismissed as withdrawn with liberty as prayed for. All contentions of the applicant are kept open.

Justice P. S. Dinesh Kumar Presiding Officer

Ms. Meera Swarup Technical Member

Dr. Dheeraj Bhatnagar Technical Member 27.10.2026 VPM

MRS PRAMILA Digitally signed by MRS PRAMILA Date: 2026.10.30 14:36:19 +05'30'