https://www.taxtmi.com/caselaws?id=752745 Freezing promoter demat accounts under SEBI's non-compliance framework is permissible, but the coercive step must follow the sequence prescribed by the circular. The Court noted that notices had been issued to the listed company and earlier compliance steps were taken, yet no separate notice was served on the promoter before freezing was directed. It further held that the delisting regulations were irrelevant because no compulsory delisting process had commenced and no delisting consequence was invoked. The freezing direction and impugned notices were therefore set aside for breach of the promoter-specific notice requirement. en-us Wed, 15 May 2024 00:00:00 +0530 Fri, 17 May 2024 09:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752745 Freezing promoter demat accounts under SEBI's non-compliance framework is permissible, but the coercive step must follow the sequence prescribed by the circular. The Court noted that notices had been issued to the listed company and earlier compliance steps were taken, yet no separate notice was served on the promoter before freezing was directed. It further held that the delisting regulations were irrelevant because no compulsory delisting process had commenced and no delisting consequence was invoked. The freezing direction and impugned notices were therefore set aside for breach of the promoter-specific notice requirement. Case-Laws SEBI Wed, 15 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752745