Published on : 15 Nov 2025, 2:30 pm 3 min read

The Bombay High Court has held that a Securities and Exchange Board of India (SEBI) consent order cannot wipe out or nullify independent criminal prosecutions [Manoj Gokulchand Seksaria v. State of Maharashtra].

The Court refused to quash two Central Bureau of Investigation (CBI) cases arising from the Yes Bank–IDFC IPO scam against stock-market intermediary Manoj Gokulchand Seksaria.

A Division Bench of Justices AS Gadkari and Ranjitsinha Raja Bhonsale dismissed Seksaria’s writ petitions seeking to terminate proceedings in the CBI cases. It observed:

" Permitting quashing of proceedings, in matters, in which the offence is against society, would be a mockery of the process of law and the criminal justice system. It would ero

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