Bombay High Court fines SEBI, BSE, and NSE ₹80 lakh for illegally freezing Dr. Pradeep Mehta and son's demat accounts.

The Bombay High Court has penalized SEBI, BSE, and NSE for unlawfully freezing the demat accounts of Dr. Pradeep Mehta and his son, Neil Mehta, imposing a collective cost of ₹80 lakh. The court declared the actions against the father-son duo as "illegal" and "invalid," citing severe procedural flaws and violations of their constitutional rights. SEBI, BSE, and NSE were also ordered to pay ₹5 lakh each to the petitioners as compensation for the hardship caused.

August 28, 2024
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