The Securities Appellate Tribunal (SAT) has dismissed the plea of one individual G Suresh against Sebi's order that slapped a fine of Rs 5 lakh on him for failing to make shareholding disclosures within the required time-frame. Market Regulator Securities & Exchange Board Of India (SEBI) in December last year had imposed a penalty of Rs 5 lakh on CG Vak Softwares & Exports' Managing Director G Suresh for failing to make shareholding disclosures within the stipulated time-frame. He approached SAT against an order of the Securities and Exchange Board of India (Sebi). In an order passed by the tribunal in Mumbai, SAT said it did not find any merit in the appeal and the hence dismissed it with no order as to costs. Suresh had acquired 27,985 shares of the company on September 22, 2010 but did not disclose to stock exchanges about it within the stipulated time. However, he had made the disclosure to the company that day itself.