BEFORE THE SECURITIES APPELLATE TRIBUNAL MUMBAI Date of Decision: 07.11.2019 Appeal No. 123 of 2019

1. Sanjay Jethalal Soni

2. Krupa Sanjay Soni

3. J M Soni Consultancy

Through its proprietor Sanjay Jethalal Soni 36, Malay Bungalows, Science City Road, Sola, Ahmedabad380 001 …Appellants Versus 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 Upadhyay, Advocate with Mr. Vijay Pandey and Mr. Akhil Sarathy, Advocates i/b Ms. Jyoti Pandey, Advocate for Appellants. Mr. Kevic Setalvad, Senior Advocate with Mr. Karan Bhosale, Ms. Sneha Prabhu, Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & Partners for the Respondent. WITH Appeal No. 170 of 2019 Vipul Virendra Kumar Patel 08 Satyam Row House Own Asson, Opposite Sanskar Apartment, New Railway Line, Satellite Road, Ahmedabad380 051, Gujarat …Appellant Versus Securities and Exchange Board of India, SEBI Bhavan, Plot No. C-4A, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051 …Respondent Ms. Rinku Valanju, Advocate with Ms. Hiral Shah, Advocate i/b R. V. Legal for the Appellant. Mr. Kevic Setalvad, Senior Advocate with Mr. Karan Bhosale, Ms. Sneha Prabhu, Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & Partners for the Respondent. WITH Appeal No. 174 of 2019

1. Janakray Vitthaldas Soni

2. Nehaben Janakray Soni

1018, Shriji Society, Tal: Dhansura, Sabarkantha, Dhansura, Madasa383 310 …Appellants Versus 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 Upadhyay, Advocate with Mr. Vijay Pandey and Mr. Akhil Sarathy, Advocates i/b Ms. Jyoti Pandey, Advocate for Appellants. Mr. Karan Bhosale, Advocate with Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & Partners for the Respondent. WITH Appeal No. 185 of 2019 Amul Gagabhai Desai 135, Ranuja Nagar, Opp. Anand School, Ahmedabad380 015 …Appellant Versus 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 Upadhyay, Advocate with Mr. Vijay Pandey and Mr. Akhil Sarathy, Advocates i/b Ms. Jyoti Pandey, Advocate for the Appellant. Mr. Karan Bhosale, Advocate with Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & Partners for the Respondent. WITH Appeal No. 186 of 2019

1. Dhiren Dharamdas Agrawal

2. Shweta Dhiren Agrawal

12, Shardanagar Housing Society, Lane No. 1, Paldi, Ahmedabad380 007 …Appellants Versus 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 Upadhyay, Advocate with Mr. Vijay Pandey and Mr. Akhil Sarathy, Advocates i/b Ms. Jyoti Pandey, Advocate for Appellants. Mr. Karan Bhosale, Advocate with Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & Partners for the Respondent. WITH Appeal No. 189 of 2019 Shantiben Gangaram Desai B/407 Ambika Smruti Park Society, Near Super High School, Ambika Nagar, Odhav, Ahmedabad382 415 …Appellant Versus 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 Upadhyay, Advocate with Mr. Vijay Pandey and Mr. Akhil Sarathy, Advocates i/b Ms. Jyoti Pandey, Advocate for the Appellant. Mr. Karan Bhosale, Advocate with Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & Partners for the Respondent. WITH Appeal No. 190 of 2019

1. Ajaykumar Jayantilal Pala

Maruti Agro Ind., Opp. Ankur Protein, NH8A Sarkhej, Bavla Road, Tal: Sanand, Changodhar, Ahmedabad382 213

2. Dhaval Satish Agrawal

2201, Bhandari Pole, Kalupur, Ahmedabad389 991

3. Vaishali Jimish Soni

A301, Dharti Crystal, IOC Tragad Road, Opp. Chandkheda Railway Station, Chandkheda, Ahmedabad382 424 …Appellants Versus 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 Upadhyay, Advocate with Mr. Vijay Pandey and Mr. Akhil Sarathy, Advocates i/b Ms. Jyoti Pandey, Advocate for Appellants. Mr. Karan Bhosale, Advocate with Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & Partners for the Respondent. WITH Appeal No. 191 of 2019 Mahesh Somabhai Desai 17, Chaapra, Nr. Chhaya Flat, Somabhai Rabari Vasahat, Ghatlodia, Ahmedabad380 061 …Appellant Versus 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 Upadhyay, Advocate with Mr. Vijay Pandey and Mr. Akhil Sarathy, Advocates i/b Ms. Jyoti Pandey, Advocate for the Appellant. Mr. Karan Bhosale, Advocate with Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & Partners for the Respondent. WITH Appeal No. 192 of 2019

1. Krunal Gopaldas Rana Z-1072, Khedavalano, Khando, Khambat-Cambay Anand388 620

2. Amitkumar Rameshchandra Rana Pan Pole, At: Khambat, Anand-388 620 …Appellants

Versus 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 Upadhyay, Advocate with Mr. Vijay Pandey and Mr. Akhil Sarathy, Advocates i/b Ms. Jyoti Pandey, Advocate for Appellants. Mr. Karan Bhosale, Advocate with Mr. Chirag Bhavsar and Ms. Eram Quraishi, Advocates i/b MDP & 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 (Oral)

1. Before the hearing could begin Shri Kevic Setalvad the

learned senior counsel for the respondent submitted on instructions received by him that the matter requires reconsideration in so far as the appellants are concerned in the scrip of Parichay Investments Limited and prayed that the impugned order may be set aside and liberty may be given to the respondent to issue a fresh show cause notice. Learned counsel for the appellants have no objection.

2. In the light of the aforesaid, without going into the merits

of the case, we quash the impugned order dated November 16, 2018 passed by the Adjudicating Officer of Securities and Exchange Board of India (“SEBI”) and give liberty to SEBI to issue a fresh show cause notice if they so desire. Such show cause notice, if any, should be issued within six weeks from today.

3. In the circumstances of the case there shall be no order as

to costs. Sd/- Justice Tarun Agarwala Presiding Officer Sd/- Dr. C.K.G. Nair Member Sd/- Justice M. T. Joshi Judicial Member 07.11.2019 Prepared & Compared By: PK