SC: Absence of Independent Witnesses is Not Fatal if Injured Eyewitness Testimony is Sterling || Supreme Court: Prosthetic Limb Costs Must Be Compensated To Restore Victims’ Dignity || Supreme Court: Probate Can be Revoked For Non-Impleadment of Parties and Suppression of Facts || SC: Plaint Cannot be Rejected For Valuation or Court Fee Defects Without Chance to Rectify || SC Rules Government Grants Act Overrides Rent Law, Sets Aside Eviction Proceeding Against Union Govt || SC: Civil Court Has No Jurisdiction in Boundary Dispute Between Maharashtra Panchayat & Municipality || Allahabad HC: Two Criminal Cases Insufficient to Label a Person as 'Goonda' and Harm Reputation || Bom HC: Sprinkling Mustard Without Ill Intent Before a House is Not an Offence under Black Magic Act || J&K&L HC: Preventive Detention Invalid When Based on Speculative Fear of Election Disturbance || Bombay High Court: POSH Act Penalises False Complaints by Women But Not Those Who Instigate Them

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 :