An interim Sebi order must not be open-ended

Delayed justice is unfair to those who may ultimately be found not guilty, and also to those who may be found guilty

On July 28, the Securities and Exchange Board of India (Sebi) revoked an interim order that had been issued 4.5 years ago, as the alleged contraventions, which were the basis of the order, could not be established.

The order had restrained one Vishal Shah, among others, from accessing the securities market, either directly or indirectly till further orders. An interim order in the Kailash Auto Finance Limited case had imposed similar restraint on 246 persons in 2016. This order too was revoked 1.5 years later in the case of 244 of those involved. In 2015, an interim order was issued