Supreme Court of India
Securities and Exchange Board of India v. Rajkumar Nagpal & Ors
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 SEBI Circular has retroactive application.
Judgment, page 50
From the headnote
SEBI (Debenture Trustees) Regulations 1993 – Companies Act 1956 – S. 391 (s. 230 Analogous provision, Present law) – Company Act 2013 – SS. 1(4), 430 – Recovery of Debts – Resolution Plan – Debenture Holders – Debenture Trust Deeds – Reliance Commercial Finance Limited (RCFL) issued Non-Convertible Debentures to various persons – Vistra ITCL was the Debenture Trustee – RCFL committed default under the Debenture Trust Deed on March 4, 2019 – On June 07, 2019, a RBI circular provided that certain lenders may opt for a resolution strategy available to them under the existing legal framework…
Authorities it was built on
Where later benches applied it
- 2024 Aligarh Muslim University through its Registrar Faizan Mustafa v. Naresh Agarwal
- 2023 Authum Investment and Infrastructure Limited v. R.K. Mohatta Family Trust
Of those, 2 mentioned
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