PNN
New Delhi [India], October 16: In a noteworthy development, SEBI (Securities and Exchange Board of India) has taken a favorable stance in the ongoing Econo Broking case. SEBI’s recent order, dated October 13, 2023, has led to the lifting of the freeze on certain bank and demat accounts associated with Econo Broking.
Econo Broking, a prominent stockbroker and Depository Participant, had been facing challenges since an interim order was issued on June 19, 2023, following allegations related to securities market manipulation.
The SEBI order not only lifts the freeze but also recognizes that Econo Broking’s appeal is grounded in merit. This marks a pivotal moment in the ongoing saga and reaffirms SEBI’s commitment to fairness and due process in the financial market.
This development is not only a win for Econo Broking but also a reaffirmation of principles of fairness and equity in India’s financial landscape. It emphasizes that Econo Broking’s appeal is founded on merit, and the regulatory process is firmly grounded in principles of fairness and justice.
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