Sebi court in Mumbai grants Ketan Parekh permission to travel to Lanka, Qatar | Mumbai News

Mumbai: A Securities and Exchange Board of India (Sebi) court has granted stock broker Ketan Parekh permission to travel to Sri Lanka and Qatar this month despite the Sebi’s submissions that he previously misused the liberty. Sebi argued that the travel could facilitate further financial irregularities. However, the judge noted that the right to travel is a fundamental component of personal liberty. The judge said, “The right to travel abroad has been considered to be a facet of the right to life and personal liberty,” adding that in modern life, such travel “cannot be considered to be a fanciful affair but has become an essential requirement.“The judge noted that Parekh’s previous travel requests for a blanket 4-month period were rejected, but the current application for 2 specific 6-day trips was far more limited in scope. Parekh is scheduled to visit Sri Lanka for a family holiday from Jan 15-20, followed by a trip to Qatar for a family wedding between Jan 22-27, 2026.The prosecution opposed the plea, citing a history of alleged market violations. It was alleged that Parekh and an associate, Rohit Salgaonkar, orchestrated a “front-running” scheme to “unjustly enrich from non-public information,” resulting in wrongful gains of approximately Rs 27 crore. The prosecution expressed concerns that Parekh might “misuse the liberty granted” and potentially abscond, noting that he was yet to deposit the Rs 27 crore penalty mandated by a Sebi order from 2025.However, the judge pointed to a ruling by the Bombay High Court in Nov 2025. The HC previously set aside the special court’s requirement for Parekh to deposit the Rs 27 crore as a condition for travel. In the current order, the judge stated, “I found that the above submission of SPP (Special Public Prosecutor) cannot be taken into consideration in view of the order of the… Bombay High Court.”The court further said that Parekh complied with all conditions during his previous travels abroad and always returned to India.As a condition for the trip, Parekh was ordered to deposit an additional security of Rs 50,000. He must also provide a detailed travel itinerary, including contact information for 2 individuals in India and at his foreign destinations. Upon his return from both Sri Lanka and Qatar, he is required to appear before the court. “No reason appears for refusing to consider the prayer of the… accused for travelling abroad,” the judge said in the order.The order directed Parekh “not to misuse the liberty granted to him.”