Supreme Court: Companies Can Face Prosecution Without Individual Officers Being Named || SC: Penalties on Insolvent Developers cannot be Recovered from Homebuyers as CIRP Costs || Allahabad HC: ‘Sar Tan Se Juda’ Hits Sovereignty, Unlike ‘Allahu-Akbar’, ‘Jai Shri Ram’ || Kerala High Court: Married Woman Cannot Claim Sex Was Based Solely on Promise of Marriage || Madras High Court Refuses Equal Recitation of Tamil Hymns With Sanskrit at Meenakshi Temple || Delhi HC: Absence of ‘Penetration’ In Child Victim’s Testimony Not Enough to Acquit Rape Accused || J&K High Court: Possession of Allegedly Anti-National Book Cannot Justify Preventive Detention || Delhi High Court: DNA Evidence Proves Sexual Intercourse, Not Consent || Madras High Court Upholds Appointment of District Judges as Tamil Nadu Lokayukta Secretary || Allahabad High Court: IO’s Mere Apprehension Cannot Justify Withholding Seized Items

National Spot Exchange Limited v. State of Maharashtra and Ors. - (High Court of Bombay) (01 Oct 2015)

NSEL subject to provisions of MPID

MANU/MH/2581/2015

Criminal

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.

Relevant : Section 3 Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 Act

Tags : STOCK EXCHANGE MAHARASHTRA DEPOSITORS

Share :