BMA clients demand relief from SAT, stage protests outside Sebi office

Their complaint stated about 45,000 investors had been affected by the alleged fraud

Disgruntled clients of brokerage BMA Wealth on Monday approached the Securities Appellate Tribunal (SAT) demanding their securities and funds be credited back to their respective Demat accounts.

BMA clients also held a protest outside the head office of the Securities and Exchange Board of India (Sebi). 

Initially, the investors were planning to file a complaint with the Reserve Bank of India (RBI). However, when they approached the RBI, they were told that they first need to file a complaint with the bank and then wait for 15 days before the central bank looks into the matter.

Investors requested the SAT to direct bank