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Bombay HC Allows Appeal Seeking ‘Equitable Distribution’ of Amounts Recovered from Assets - (15 Mar 2021)

CAPITAL MARKET

Bombay High Court has allowed appeals by an aggrieved investor in the National Spot Exchange as well as the Maharashtra government who had sought the 'equitable distribution' of amounts recovered from assets seized from the company, interpreting the term 'equitable' as it appeared in Section 7(4) of the Maharashtra Protection of Interest of Depositors (MPID) (In Financial Establishments) Act, 1999 as different from the term 'equal'."

Tags : BOMBAY HIGH COURT ‘EQUITABLE DISTRIBUTION’ OF AMOUNTS RECOVERED FROM ASSETS

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