Supreme Court of India
Bombay Stock Exchange v. Jaya I. Shah and Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that the matter G be considered afresh by the learned Single Judge of the High Court.
Judgment, page 30
From the headnote
Stock Exchange Rules, Byelaws and Regulations, 1957: Defaulters' Committee-Status of-Held: Is not a juristic person but merely an association of persons. Bye-Laws 322 and 326-Member Stock Exchange-Declared defaulter-Assets of-Vesting-Held: His assets vest in Defaulters' Committee for benefit and on account of creditor members-However, such vesting is not absolute-Vestment co-terminus with the satisfaction of the members' claim-It comes to an end as soon as the purpose of Bye-law 326 is satisfied.
Where later benches applied it
- 2025 Ac Chokshi Share Broker Private Limited v. Jatin Pratap Desai & Anr.
- 2014 The Stock Exchange, Bombay v. V. S. Kandalgaonkar & Ors.
Of those, 2 relied on
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