Mumbai: SEBI Court Rejects Ketan Parekh's 4-Month Travel Request, Citing Past Violations

Mumbai: The special SEBI court rejected Ketan Parekh’s plea to travel abroad for four months, noting that when previously allowed to travel for six months, he violated SEBI rules.

On Wednesday, the court denied Parekh permission to travel from October 4, 2025, to February 2026 to the UK, UAE, Qatar, Singapore, Thailand, Sri Lanka, South Africa, the European Union, and Georgia for a family vacation and two weddings of close relatives in November and January. Parekh was previously granted travel permission from December 2014 to March 2025 and from January 2021 to June 2023. This time, the prosecution objected, alleging Parekh and others wrongfully gained Rs 65.77 crore, violating SEBI Act provisions.

Observation Made By The Court

The court stated, “The accused has prayed for a long period of four months, which cannot be considered based on material placed on record by the SEBI in respect of the involvement of the applicant/accused in the illegal activities in contravention with the securities law.” Rejecting the plea, the court said: “The accused is alleged to have indulged in illegal activity in contravention of securities law affecting national interest.”

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The prosecution presented an order imposing a penalty on Parekh and others. The court added: “The possibility of applicant/accused indulging in such unlawful activity in contravention to the securities law cannot be ruled out if such blanket permission for four months is granted to the applicant/accused.”

It further noted that “I found that it would not be expedient in the national interest and economy of the country to permit the applicant/accused to travel abroad for a longer period of four months, that too without specific details except the details in respect of the wedding ceremony of close relatives and acquaintances.”

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