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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> High Court of Bombay <br /><br /> NSEL subject to provisions of MPID<br /><br /> MANU/MH/2581/2015 - (01 Oct 2015)<br /><br /> </td> </tr> <tr> <td align="left" valign="top">National Spot Exchange Limited v. State of Maharashtra and Ors.</td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Bombay High Court dismissed NSEL’s petition against the application of Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999. It determined NSEL, the alleged fraud perpetrated and the purpose for which money was received by depositors to fulfill all conditions for attracting the MPID Act.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Relevant : Section 3 Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 nActCompID=11462</strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Stock exchange, Maharashtra, depositors,</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>