Securities Appellate Tribunal
Smc Global Securities Limited vs Sebi on 14 October, 2025
IN THE SECURITIES APPELLATE TRIBUNAL
At MUMBAI
Date: 14.10.2025
Appeal No. 116 of 2025
[Along with Misc. Application Nos. 232, 233 and 881 of
2025]
Pace Stock Broking Services Private Limited ...Appellant
Versus
Securities and Exchange board of India ...Respondent
Mr. J.P. Sen, Senior Advocate with Ms. Yugandhara
Khanwilkar, Ms. Ragini Singh, Ms. Priya Rai and Mr. Rohan
Phadke, Advocates i/b ThinkLaw Advocates for the
Appellant.
Mr. Vishal Kanade, Advocate with Mr. Manish Chhangani,
Mr. Sumit Yadav, Mr. Abhay Chauhan, and Mr. Atul Agrawal,
Advocates i/b The Law Point for the Respondent-SEBI.
With
Appeal No. 117 of 2025
[Along with Misc. Application Nos. 235, 236, 237 and 880 of
2025]
Share India Securities Limited ...Appellant
Versus
Securities and Exchange board of India ...Respondent
Mr. J.P. Sen, Senior Advocate with Ms. Yugandhara
Khanwilkar, Ms. Ragini Singh, Ms. Priya Rai and Mr. Rohan
Phadke, Advocates i/b ThinkLaw Advocates for the
Appellant.
Mr. Manish Chhangani, Advocate with Mr. Sumit Yadav,
Mr. Abhay Chauhan, and Mr. Atul Agrawal, Advocates i/b
The Law Point for the Respondent-SEBI.
2
With
Appeal No. 118 of 2025
[Along with Misc. Application Nos. 238, 239, 240, 648 and
875 of 2025]
Adroit Financial Services Pvt. Ltd ...Appellant
Versus
Securities and Exchange board of India ...Respondent
Ms. Yugandhara Khanwilkar, Advocate with Ms. Ragini
Singh, Ms. Priya Rai and Mr. Rohan Phadhke, Advocates i/b
ThinkLaw Advocates for the Appellant.
Mr. Shiraz Rustomjee, Senior Advocate with Mr. Manish
Chhangani, Mr. Sumit Yadav, Mr. Abhay Chauhan, and
Mr. Atul Agrawal, Advocates i/b The Law Point for the
Respondent-SEBI.
With
Appeal No. 119 of 2025
[Along with Misc. Application Nos. 241, 242, 243 and 879 of
2025]
SMC Global Securities Limited ...Appellant
Versus
Securities and Exchange board of India ...Respondent
Mr. J.P. Sen, Senior Advocate with Ms. Yugandhara
Khanwilkar, Ms. Ragini Singh, Ms. Priya Rai and Mr. Rohan
Phadke, Advocates i/b ThinkLaw Advocates for the
Appellant.
Mr. Vishal Kanade, Advocate with Mr. Manish Chhangani,
Mr. Sumit Yadav, Mr. Abhay Chauhan, and Mr. Atul Agrawal,
Advocates i/b The Law Point for the Respondent-SEBI.
3
And
Appeal No. 120 of 2025
[Along with Misc. Application Nos. 244, 245, 246 and 882 of
2025]
Yug Securities Pvt. Ltd. ...Appellant
Versus
Securities and Exchange board of India ...Respondent
Ms. Yugandhara Khanwilkar, Advocate with Ms. Ragini
Singh, Ms. Priya Rai and Mr. Rohan Phadhke, Advocates i/b
ThinkLaw Advocates for the Appellant.
Mr. Shiraz Rustomjee, Senior Advocate with Mr. Manish
Chhangani, Mr. Sumit Yadav, Mr. Abhay Chauhan, and
Mr. Atul Agrawal, Advocates i/b The Law Point for the
Respondent-SEBI.
ORDER:
Part heard. By consent, call for further hearing on November 03, 2025 (Morning session) and November 04, 2025 at 02:30 P.M. Justice P. S. Dinesh Kumar Presiding Officer Ms. Meera Swarup Technical Member Dr. Dheeraj Bhatnagar Technical Member 14.10.2025 PRERNA MANISH KHARE Digitally signed by PRERNA MANISH KHARE Date: 2025.10.15 16:01:18 +05'30' PK