NCLAT Rejects BSE Pleas, Upholds NCLT Power to Defreeze Demat Accounts

• The NCLAT dismissed appeals by BSE challenging NCLT's authority to defreeze Demat accounts during insolvency.
• NCLAT affirmed NCLT's jurisdiction under Section 60(5) of the IBC to direct defreezing of Demat accounts.
• BSE argued NCLT lacked jurisdiction over issues within Securities Law Framework and Sebi Circulars.
• The cases involved Future Corporate Resources and Liz Traders and Agents, whose Demat accounts were frozen by BSE due to non-compliance.
• NCLAT stated IBC has overriding power over other laws in case of conflict during insolvency or liquidation.