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6 judgments · newest first · showing 1–6
The Supreme Court examined whether secured creditors could claim priority over assets attached under the Prevention of Money Laundering Act (PMLA) and the Maharashtra Protection of Investors and Depositors Act (MPID Act) by invoking the SARFAESI Act and the Recovery of Debts and Bankruptcy (RDB) …
The State of Maharashtra sought attachment of the properties of 63 Moons Technologies, which holds 99.99% of National Spot Exchange Ltd. (NSEL), under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999, alleging that NSEL is a financial establishment that …
The Supreme Court examined proceedings initiated by the Forward Markets Commission (later merged with SEBI) against Neptune Overseas Ltd (NOL) and its director Kailash Ramkishan Gupta for alleged trading irregularities. A detailed show‑cause notice dated 21 June 2011 was served only on Gupta, and …
The Supreme Court examined the Central Government's order under Section 396 of the Companies Act, 1956 that compulsorily amalgamated 63 Moons Technologies Ltd. (FTIL) with its wholly‑owned subsidiary National Spot Exchange Ltd. (NSEL). The Court held that the order was ultra vires because the …
The appellants, Ramdeo Onkar Mal & Anr., were prosecuted under the Forward Contracts (Regulation) Act, 1952 for purchasing Tur (Arhar) in violation of three government notifications issued on 17 July 1958. They challenged the validity of the notifications, contending that the area of operation was …
