Securities Appellate Tribunal
Inventure Growth And Securities ... vs Sebi on 18 August, 2025
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date : 18.08.2025
Appeal No. 201 of 2020
Inventure Growth & Securities Ltd. ... Appellant
Versus
Securities & Exchange Board of India ...Respondent
Mr. Kunal Katariya, Advocate with Mr. Sahebrao Wamanrao
Buktare, Ms. Ashmita Goradia, Advocates and Mr. Shardul
Shah, CA i/b Shah & Ramaiya, Chartered Accountants for
the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 205 of 2020
Sanjay Gupta ....Appellant
Versus
Securities & Exchange Board of India .... Respondent
Mr. Mihir Man Singh, Advocate with Mr. Keshav Taori,
Advocate i/b. Mindspright Legal for the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 208 of 2020
APL Infrastructure Pvt. Ltd. ..... Appellant
Versus
2
Securities and Exchange Board of India ... Respondent
Mr. Mihir Man Singh, Advocate with Mr. Keshav Taori,
Advocate i/b. Mindspright Legal for the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 216 of 2020
Deepak Thakkar ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Ms. Nirali Mehta, Advocate with Mr. Suyash Bhandari, Mr.
Juan D'Souza, Advocates i/b. Mindspright Legal for the
Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 227 of 2020
Yatin B. Shah ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Vinay Chouhan, Advocate with Mr. Anand Kankani, CS
i/b Kankani & Associates for the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 228 of 2020
3
Hardik Mithani & Anr. ..... Appellants
Versus
Securities and Exchange Board of India ... Respondent
Mr. Vinay Chouhan, Advocate with Mr. Anand Kankani, CS
i/b Kankani & Associates for the Appellants.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 239 of 2020
Rakesh Sharma ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Ravichandra Hegde, Advocate with Ms. Parinaz
Bharucha, Mr. Kandarp Trivedi, Advocates i/b RHP Partners
for the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 242 of 2020
Dharmesh Shah ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Mihir Man Singh, Advocate with Mr. Keshav Taori,
Advocate i/b. Mindspright Legal for the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Tushar
Bansode, Advocates i/b K. Ashar & Co. for the Respondent.
4
With
Appeal No. 568 of 2020
Nikhil Securities Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Kushal Shah, CA i/b Ketan Rupani & Co. for the
Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 485 of 2021
Rakesh Sharma ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Ravichandra Hegde, Advocate with Ms. Parinaz
Bharucha, Mr. Kandarp Trivedi, Advocates i/b RHP Partners
for the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 566 of 2021
Inventure Growth & Securities Ltd. ... Appellant
Versus
Securities & Exchange Board of India ...Respondent
Mr. Kunal Katariya, Advocate with Mr. Sahebrao Wamanrao
Buktare, Ms. Ashmita Goradia, Advocates and Mr. Shardul
Shah, CA i/b Shah & Ramaiya, Chartered Accountants for
the Appellant.
5
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 567 of 2021
APL Infrastructure Pvt. Ltd. ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Mihir Man Singh, Advocate with Mr. Keshav Taori,
Advocate i/b. Mindspright Legal for the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 568 of 2021
Sanjay Gupta ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
Mr. Mihir Man Singh, Advocate with Mr. Keshav Taori,
Advocate i/b. Mindspright Legal for the Appellant.
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
With
Appeal No. 607 of 2021
Deepak Thakkar ..... Appellant
Versus
Securities and Exchange Board of India ... Respondent
6
Mr. Sukrut Mhatre, Advocate for the Appellant
Mr. Mihir Mody, Advocate with Mr. Yash Sutaria, Mr. Aavish
Shetty, Mr. Karthik K.P., Mr. Vijay Chockalingam, Advocates
i/b K. Ashar & Co. for the Respondent.
ORDER :
1. Adjournment is sought by the appellants. By consent, call on August 21, 2025 at 2:30 p.m. Justice P. S. Dinesh Kumar Presiding Officer Ms. Meera Swarup Technical Member Dr. Dheeraj Bhatnagar Technical Member 18.08.2025 MRS Digitally signed by MRS PRAMILA PRAMILA 16:20:48 Date: 2025.08.20 +05'30' PTM