Securities Appellate Tribunal
Bhavin Arvind Shah vs Securities and Exchange Board of India on 2 November 2026
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date : 02.11.2026
Misc. Application No. 1050 of 2026
In
Appeal No. 276 of 2026
Bhavin Arvind Shah
…Appellant
Versus
Securities and Exchange Board of India
…Respondent
Mr. Pramod Kathane, Advocate for the Appellant.
Ms. Nidhi singh with Ms. Nidhi Faganiya, Ms. Sanjana Kumar and Mr. Arav Doss, Advocates i/b Vidhii Partners for the Respondent.
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ORDER:
By our order dated September 03, 2026, we have directed the appellant to deposit full penalty and full disgorgement amounts as condition for granting the interim order. Appellant has deposited the same in his name in a fixed deposit with a lien marked in SEBI’s favour. Appellant has sought modification of the order to that extent. Learned Advocate for the respondent has no objection. Prayer in Misc. Application No. 1050 of 2026 is granted and disposed of.
Justice P.S. Dinesh Kumar Presiding Officer
Ms. Meera Swarup Technical Member
Dr. Dheeraj Bhatnagar Technical Member 02.11.2026 msb MADHUKAR BHALBAR Digitally signed by MADHUKAR BHALBAR Date: 2026.11.03 11:43:16 +05'30'