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Legal Advice for ₹20 Lakh BGDL Investment—SEBI Suspension & Refund Opt
02-Jan-2025 (In Consumer Court Law)
My retired uncle invested ₹20L in BGDL after Nov 15, 2024, based on BSE announcements about orders with Reliance and McCain Foods. SEBI has since suspended trading and launched an investigation into fraudulent disclosures. We want to explore annulment of trades post-Nov 1 under SEBI Act Sections 11, 11B, 15HA, or push for settlements via SEBI’s Investor Protection Fund. Should we file a class-action suit under CPC 1908? Need legal steps for recovery and protection.
Under SEBI, stock exchanges can annul trades in exceptional situations, such as when there is fraud, willful misrepresentation, or a material mistake. The exchange must notify all counter parties of its decision, and the aggrieved party can request a review. As far as Class Action Suit is concerned, Class Action Suit can be filed in High Court in consonance with concerned High Court Rules and CPC, 1908.
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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Please reach out to me so that I can review the facts of your case thoroughly. I need to understand the details before providing any comments or suggestions. I will require more clarity on your situation.
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Adv. Ajinkya Sanjay Gosavi
VasaiVirar | 100+ Answers
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