In a development that has reignited public scrutiny over financial fraud accountability, Mumbai’s Special SEBI Court has granted permission to former stockbroker Ketan Parekh to travel abroad, provided he deposits ₹27.06 crore with the Securities and Exchange Board of India (SEBI). Parekh, a key accused in the infamous 2000–2001 securities scam, had previously been barred from the stock market for 14 years and faces ongoing criminal proceedings under the SEBI Act.
The court’s decision, delivered by Special Judge Ravi M. Jadhav, allows Parekh to visit Thailand (November 5–9) and the UAE (November 18–28) for a family vacation and wedding. The permission comes after a prior plea for a four-month blanket travel approval was rejected in September 2025. The court emphasized that the liberty granted must not be misused and mandated Parekh to submit a detailed travel itinerary and appear before the court upon return.
🧠 Key Conditions for Travel Permission
| Requirement | Details |
|---|---|
| Security Deposit | ₹27.06 crore to SEBI linked to interim order dated January 2, 2025 |
| Travel Duration | Thailand (5 days), UAE (10 days) |
| Court Conditions | Submit itinerary, appear post-return, no misuse of liberty |
| Previous Plea Status | Rejected in September 2025 due to excessive duration |
| SEBI Allegations | Wrongful gains of ₹65.77 crore; ₹38.70 crore already repaid |
Parekh’s defense cited joint liability and prior court approvals to justify the travel request.
📊 Timeline of Legal Proceedings Against Ketan Parekh
| Year | Event Description | Outcome |
|---|---|---|
| 2001 | Securities scam exposed | Parekh debarred from stock market |
| 2014–2025 | Limited travel permissions granted intermittently | Subject to court conditions |
| Jan 2025 | SEBI interim order issued | ₹65.77 crore wrongful gain identified |
| Sep 2025 | Travel plea for 4 months rejected | Court cites misuse risk |
| Nov 2025 | Permission granted for 14-day travel | ₹27.06 crore deposit mandated |
The case continues to be one of India’s most high-profile financial fraud investigations.
🗣️ Reactions from Legal and Financial Circles
| Stakeholder | Commentary Summary |
|---|---|
| Legal Experts | “Court has balanced liberty with accountability.” |
| Investor Groups | “Raises questions on fraud deterrence.” |
| SEBI Officials | “Monitoring compliance with court directives.” |
| Public Sentiment | “Mixed reactions—some see privilege, others see due process.” |
The decision has sparked debate on judicial discretion in white-collar crime cases.
📌 Breakdown of SEBI’s Interim Order
| Allegation Component | Amount (₹ crore) | Status |
|---|---|---|
| Total Wrongful Gain | 65.77 | Established by SEBI |
| Amount Repaid | 38.70 | Credited by Parekh |
| Remaining Dues | 27.06 | To be deposited before travel |
| Associated Entities | 20+ | Including Rohit Salgaocar (Singapore) |
The SEBI order also barred multiple entities from market participation.
📌 Conclusion
The Mumbai Special Court’s decision to allow Ketan Parekh to travel abroad after depositing ₹27.06 crore with SEBI underscores the complex interplay between judicial discretion, regulatory enforcement, and individual rights in financial fraud cases. While Parekh’s compliance with court conditions may reflect procedural adherence, the broader implications for investor trust and market integrity remain under scrutiny. As the case progresses, stakeholders across the legal and financial spectrum will be watching closely.
Disclaimer: This article is based on publicly available court documents, SEBI orders, and media reports. It is intended for informational and editorial purposes only and does not constitute legal advice or endorsement.
