BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
Date of Decision : 28.06.2019
Appeal No. 412 of 2018
1. Dhiren Dharamdas Agrawal
2. Shweta Dhiren Agrawal
13, Shrdanagar Society, Lane No. 1,
Paldi, Ahmedabad 380007.

….. Appellants
Versus
Securities & Exchange Board of India
Securities and Exchange Board of India
SEBI Bhavan, Plot No. C-4A, G Block,
Bandra Kurla Complex, Bandra (East),
Mumbai – 400 051.

… Respondent
Mr. Nishant K. Upadhyay, Advocate for the Appellants.
Mr. Karan Bhosale, Advocate with Mr. Kaushal Parsekar, Advocate
i/b Legasis Partners for the Respondent.

CORAM : Justice Tarun Agarwala, Presiding Officer
Dr. C. K. G. Nair, Member
Justice M. T. Joshi, Judicial Member
Per : Justice Tarun Agarwala, Presiding Officer (Oral)
1.

In view of the decision delivered by us on June 28, 2019 in
Appeal No. 483 of 2018 Sanjay Jethalal Soni & Ors. vs. SEBI, the
present appeal is partly allowed.

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2.

The penalty of Rs. 2 lacs each imposed on the appellants,
namely, Dhiren Dharamdas Agrawal and Shweta Dhiren Agrawal as
PAC to the extent of Rs. 2 lacs each is modified to Rs. 2 lacs which
shall be paid by the said PAC jointly and severally. In addition, the
imposition of penalty on Dhiren Dharamdas Agrawal to the tune of
Rs. 3 lacs is affirmed. The amount of penalty shall be paid within
four weeks from today.

Sd/Justice Tarun Agarwala
Presiding Officer
Sd/Dr. C. K. G. Nair
Member
Sd/Justice M. T. Joshi
Judicial Member
28.06.2019
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