A Securities and Exchange Board of India (SEBI) special court refused to grant permission to former stockbroker Ketan Parekh, who wanted to travel abroad for his daughter's medical treatment as well as for business.
The court stated that, while the right to travel abroad was valuable and an essential component of the right to personal liberty, it was not an absolute right.
The court noted that in some of the cases pending against Parekh, proclamations were required before he could appear before it.
According to the court, he had 27 criminal cases pending against him across the country in addition to the 18 criminal cases in this court.
Considering the huge number of cases and past record, the possibility of him absconding cannot be ruled out, it said.
The court stated that the offence in each case was punishable by up to ten years in prison, a fine, or both. It was also stated that Parekh had not provided his itinerary to the court.