Petitioners are aggrieved by freezing of their Demat accounts on the ground of "statutory order".

Last updated: 06 March 2021
Quick Summary
This case involves petitioners aggrieved by the freezing of their Demat accounts, allegedly based on a 'statutory order'. The petitioners argue that the entity freezing the accounts is not a statutory authority and lacks the power to do so. Furthermore, they claim no such statutory order for freezing exists. Respondent No. 5, however, raised a preliminary objection, stating that the petitioners had previously appealed a similar matter to the Supreme Court, which was dismissed, thus preventing them from re-agitating the same grievances.

Court :
Bombay High Court

Brief :
Heard Mr.Shenoy, learned counsel for the petitioners;Ms.Singh, learned counsel for respondent No.1, Mr.Walve, learnedstanding counsel, revenue for respondent No.2; Mr.J.B.Mishra,learned counsel for respondent No.3; and Mr.Modi, learned senior counsel alongwith Mr.Anubhav Ghosh, learned counsel for respondent No.5.

Citation :
Writ Petition (St.) No. 866 of 2021

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