Criminal Court Lacks Jurisdiction Over Misappropriation Allegations Against Share Broker, SEBI Act Takes Precedence: Allahabad High Court

In a significant ruling, Justice Anish Kumar Gupta of the Allahabad High Court quashed the criminal proceedings against Jitendra Kumar Keshwani, a licensed share broker, emphasizing that the Securities and Exchange Board of India (SEBI) Act takes precedence in cases of stock market misappropriation. The court ruled that the criminal courts lack jurisdiction over such

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