Mumbai: Market regulator, SEBI is filing a caveat in the mumbai high court saying that no party can appeal the SEBI interim order on demat scam in any court, other than the Securities Appelate Tribunal.
This comes on the back of the Andhra Pradesh high court putting SEBI's order against Karvy securities under interim suspension.
This means the regulator is mulling to take pre-emptive action in the Mumbai high court.
On Tuesday the Andhra Pradesh High Court had admitted Karvy's petition on the SEBI order and allowed opening of fresh demat accounts through Karvy.
It also suspended SEBI's interim order asking demat account holders to shift their accounts, saying that this ruling does not come under SEBI's jurisdiction.
Even as the Andhra Pradesh High Court brought some reprieve to Karvy stock broking and its clients, the finance ministry on Wednesday backed SEBI's action against the demat scam.
Meanwhile Gujarat High court adds woes to SEBI as it bans another of its (SEBI’s) order.
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