Omprakash Basantlal Goenka & Others vs Adjudicating Officer, Securities And ...

BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date: 21.08.2026 Appeal No. 259 of 2026 Omprakash Basantlal Goenka & Ors. ... Appellants Versus Securities & Exchange Board of India ... Respondent Mr. Vinay Chauhan, Advocate with Mr. K. C. Jacob, Mr. Shourya Tanay, Ms. Mridula Bhat, Advocates i/b Economic Laws Practice for the Appellants. Ms. Prachi Pandya, Advocate with Mr. Bhushan Shah, Mr. Abhishek Nair, Ms. Sayali Kshirsagar, Advocates i/b Mansukhlal Hiralal & Co. for the Respondent. ORDER : 1. Admit. 2. Respondent is allowed six weeks to file reply. Rejoinder, if any, be filed within three weeks thereafter. 3. Mr. Vinay Chauhan, learned advocate for the appellants seeks an order in like terms as in Appeal No. 460 of 2025, Omprakash Basantlal Goekna vs. SEBI, wherein stay of recovery has been ordered subject to deposit of 25% of the penalty amount for the reasons recorded therein. 4. Ms. Prachi Pandya, learned advocate for the respondent submitted that approximately about Rs.8,000 Crores has to be recovered. Keeping in view the gravity of the case, the appellant may be directed to deposit of 50% of the penalty amount as condition to grant stay. 5. The Appellant No. 1, Omprakash Basantlal Goenka is 80 years old. After carefully considering the matter, we had directed deposit of 25% of penalty in Appeal No. 460 of 2025. Following the same, we direct stay of recovery subject to deposit of 25% of penalty amount. 6. Learned Advocate for the respondent submitted that the other appellants are not senior citizens. Hence, the benefit of order in Appeal No.460 of 2025 may not be extended. Mr. Chauhan submitted that all assets of the appellants have been attached. Hence, in our view, in the facts of this case, directing the appellants to deposit 25% of penalty is just and appropriate. 7. There shall be stay of recovery subject to deposit of 25% of the penalty amount within four weeks from today. SEBI shall place the said amount in an interest bearing account. 8. Call on 17.11.2026. Justice P. S. Dinesh Kumar Presiding Officer Ms. Meera Swarup Technical Member 21.08.2026 MRS Digitally signed by MRS PRAMILA VPM PRAMILA Date: 2026.08.24 11:14:37 +05'30'