Probo Media Technologies Private Limited, owner of the opinion trading platform Probo, has approached the Punjab and Haryana High Court (HC) seeking interim relief from the court to tackle business expenses after the company’s bank account was frozen in an ongoing case against the company in a cheating case. Earlier this month, the Supreme Court of India dismissed a petition filed by Probo that alleged that the state police had frozen its “entire bank accounts” with deposits worth over Rs 100 crore.
Why did the Police freeze Probo’s accounts?
A Gurugram resident reportedly filed a First Information Report (FIR) against the company in March 2025, alleging that he lost Rs 20,000 on Probo. He said that the company misled users by terming gambling as opinion trading. Following the complaint, the state police froze the bank accounts of the company.
As per the report, the HC has asked the state to submit a response to the court on whether the bank accounts of the company could be partially “de-frozen” to let it pay the salaries of the employees and meet operational expenses.
The platform’s lawyer, during the hearing, emphasised that the company was currently only asking for “limited relief” to manage day-to-day operations. In this regard, the state counsel requested the court for more time to obtain further instructions from the government.
What did the Supreme Court say?
On June 2, 2025, the apex court of India, after hearing Probo’s petition seeking relief, dismissed the plea, highlighting that the matter is already in the Punjab and Haryana HC.
“Considering that the High Court is yet to decide on the petitioners’ prayer for interim relief, we are not inclined to entertain the present special leave petition. However, liberty is reserved in favour of the petitioners to approach the Vacation Judge of the concerned High Court even before July 15, 2025,” the Supreme Court said while dismissing Probo’s plea.
Mukul Rohatgi, advocate representing the opinion trading platform, argued before the Supreme Court that the order is “innocuous,” but the problem is enormous, according to a Bar and Bench report. Rohatgi said that the company had already challenged the complaint that a Gurugram resident filed against the app for losing Rs 20,000. But the police froze Rs 100 crores in the company’s accounts. He alleged that this has suspended the “entire business,” although the HC has already issued a notice.
Advertisements
Why it matters:
The series of events will only add to the operational troubles and uncertainty that the opinion trading platform is facing in multiple Indian states, including Chhattisgarh and Haryana.
On May 6, 2025, the Chhattisgarh government ordered the internet and telecom operators to block access to three opinion trading websites, including Probo. The state counsel informed the Chhattisgarh High Court (HC) during a hearing of a Public Interest Litigation (PIL) against such allegedly illegal gambling platforms for violating the advertising rules of the state’s gambling prohibition law.
Apart from its legal troubles in Chhattisgarh, the opinion trading company might also face legal heat in Haryana. According to a Mint report, the recently notified Haryana Prevention of Public Gambling Act, 2025, has delivered a “severe blow” to opinion trading companies operating in the state. Since the law deems any agreement on uncertain outcomes as a wager, it “casts a wide net” over different online gaming platforms that depend upon “skill-based speculative trading.”
The state’s anti-gambling law aims to curb public gambling, especially “betting in sports or elections, match fixing, or spot fixing in sports”. It is important to note that the app is still reportedly operational in the state.
Also read:
Support our journalism:
For You
Source link
