SAT stays SEBI's Feb 2026 order directing Setco promoters to pay ₹208.77 crore, subject to depositing penalty amount.
Stay granted due to risk of company liquidation if lenders invoke pledges/guarantees after adverse order.
Minority shareholders (99%) had approved the contested related-party transactions in an EGM, with promoters abstaining.
Appellants must not access securities market and provide asset list to SEBI as conditions for stay.