New Delhi, July 13 -- The appellate tribunal has ordered the capital markets regulator to defreeze Lalit Bhasin's bank accounts, granting him partial relief in the case of alleged market manipulation with his cousin and former IIFL Securities Ltd director Sanjiv Bhasin.

The Securities Appellate Tribunal's (SAT) directions came in appeals filed by Lalit Bhasin and two companies, challenging the Securities and Exchange Board of India's (Sebi's) ad-interim ex-parte order of 17 June made public on Saturday (12 July).

'Ad interim' means temporary, while an 'ex parte' order is granted based on the request and information of only one party without waiting for the other's response. Such orders are granted in urgent situations where a delay coul...