Pursuant to Regulation 30 of SEBI(LODR), 2015, we wish to inform to that the Securities Appellate Tribunal, Mumbai vide interim order dated April 28, 2026 in Appeal No. 86 of 2026 has granted ....
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SEBI had debarred Unison Metals' Managing Director Tirth Mehta, his father Uttamchand Mehta, and father-in-law Sharad Gattani from securities markets for one year and imposed ₹10 lakh penalties each. The allegation involved a 'pump and dump' scheme: manipulating Unison Metals' share price and volume through stock recommendations on Telegram channels during December 2021, with profits of ₹3.87 crore made by noticees. The Securities Appellate Tribunal (SAT), Mumbai, on April 28, 2026, granted interim relief by staying the SEBI order pending appeal, subject to deposit of 50% of the penalty within two weeks. A lending partner has already withdrawn the company's credit limit citing SEBI's enforcement action and adverse media reports. The company states there is no quantified impact on financials or operations.
The SAT interim stay restores the Managing Director's market access and allows the company to remain eligible for future public offers under SEBI ICDR regulations. However, the underlying SEBI investigation findings remain active, and reputational damage plus credit risk from the enforcement action are already materialising.