https://www.taxtmi.com/caselaws?id=464513 Under the SEBI circular-based stock exchange SOP for a trading member in potential default, the exchange may freeze accounts and use available funds and resources to settle the maximum number of client claims as an interim measure before declaration of default. On the facts, the distributed amounts were traced to deposits, clearing member funds, exchange-held funds, and sums infused by the broker, so there was no basis to hold that the appellant's margin money had been used for other clients. The appellant's claim for refund of the remaining margin money was therefore rejected on merits, and any broader challenge to the fairness of the SOP itself was not examined in this proceeding. en-us Mon, 17 Jul 2023 00:00:00 +0530 Mon, 03 Nov 2025 19:39:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464513 Under the SEBI circular-based stock exchange SOP for a trading member in potential default, the exchange may freeze accounts and use available funds and resources to settle the maximum number of client claims as an interim measure before declaration of default. On the facts, the distributed amounts were traced to deposits, clearing member funds, exchange-held funds, and sums infused by the broker, so there was no basis to hold that the appellant's margin money had been used for other clients. The appellant's claim for refund of the remaining margin money was therefore rejected on merits, and any broader challenge to the fairness of the SOP itself was not examined in this proceeding. Case-Laws SEBI Mon, 17 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464513