NSE Lifts Account Freeze for 4 Entities in IEX Case; Trading Curbs Remain on India Energy Exchange Shares

Mumbai, March 26, 2026 — National Stock Exchange of India (NSE) has directed market participants to unfreeze accounts of four individuals linked to the ongoing matter involving India Energy Exchange Ltd (IEX), while maintaining trading restrictions specifically in the company’s securities.
The move follows directions received after a tribunal order that provided conditional relief to certain appellants in the case.

Key Development​

The exchange confirmed that accounts of the following individuals have been unfrozen:
Despite the unfreezing of accounts, the exchange clarified that these entities are not permitted to buy, sell, or deal in securities of India Energy Exchange Ltd, either directly or indirectly. However, no restrictions apply to trading in other securities.

Background of the Case​

Earlier regulatory action had imposed a complete market ban on multiple entities, prohibiting them from accessing the securities market. The restrictions were part of an interim order that also involved impounding of funds amounting to over ₹129 crore.
Subsequently, the tribunal granted partial relief to four appellants, subject to specific conditions, including:

• Deposit of ₹50 crore
• Submission of an affidavit backed by valuation of immovable assets

Upon compliance with these conditions, certain directions of the earlier order were stayed, leading to the latest operational update by the exchange.

Scope of Restrictions​

Other entities named in the original action continue to remain under regulatory restrictions.

About India Energy Exchange Ltd​

India Energy Exchange Ltd (NSE: IEX) is India’s premier energy trading platform, facilitating electronic trading of electricity, renewable energy certificates, and energy-saving certificates. The company plays a critical role in enabling transparent price discovery and efficient distribution of power across the country.

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