BSE17 Aug 2026noticePrepared by Complied AI

SAT Order in the matter front running by Madhav Stock Vision Pvt. Ltd. and Others

BSE notice 20260818-41 · 17 Aug 2026

The Securities Appellate Tribunal issued an order on August 10, 2026, regarding front running by Madhav Stock Vision Pvt. Ltd. and others. The order stays the debarment of the appellants. This stay requires the deposit of the full penalty and disgorgement amount. SEBI confirms that the appellants paid the required penalty and disgorgement amount. Trading members must note this development for compliance purposes.

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Summary

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What changed

Who is affected: Madhav Stock Vision Pvt. Ltd.
Ajay Sampatraj Jain
Rajkumar Prabhu Damani
All Trading Members of the Exchanges
Required action: Trading members must note the order and ensure compliance.
Key dates: Date of SAT order — 09 Aug 2026
Date of SEBI email confirmation — 17 Aug 2026

Prepared automatically from the captured official document and checked against source evidence. This is not an independent professional review. See how briefs are prepared. Verify material decisions against the official record.

Source details

Source: BSE Ltd (Bombay Stock Exchange)
Type: notice
Published by source: 17 Aug 2026
Document number: 20260818-41
Issuing division: DOSS
Coverage area: securities

Document text

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[Image omitted. See the official document.]

NOTICE


Notice No.	20260818-41
Notice Date	18 Aug 2026
Category	Compliance
Segment	General
Department	DOSS
Subject	SAT Order in the matter front running by Madhav Stock Vision Pvt. Ltd. and Others
Attachments	Final_Order_in_the_matter_of_front_running_by_Madhav_Stock_Vision_Pvt_Ltd_and_Others ; SAT_Order

[Image omitted. See the official document.]

All Trading Members of the Exchanges

Sub: SAT Order in the matter front running by Madhav Stock Vision Pvt. Ltd. and Others.

In continuation to the Exchange Notice No. 20260724-26 dated July 24, 2026, on the captioned matter.

SAT vide its order dated August 10,2026, has inter-alia stated that, “stay on debarment subject to deposit of entire penalty and disgorgement amount.”

Now SEBI vide its email dated August 18, 2026,has inter-alia stated that, the appellant i.e Madhav Stock Vision Pvt. Ltd. and Ors. have paid the penalty and disgorgement amount in favour of SEBI.”

The appellant details are mentioned below:

Name of the Appellant	PAN of the Appellant
Madhav Stock Vision Pvt. Ltd.	AABCM8845M
Ajay Sampatraj Jain	AABPJ0451D
Rajkumar Prabhu Damani	AECPD9155K

Trading members are advised to take note of the same and ensure compliance.

Abhijit Pai
Deputy Vice President
Investigation

Prashant Malekar
Deputy Manager
Investigation

Date: August 18, 2026

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