Supreme Court of India
Gpsk Capital Private Limited (formerly Known as Mantri Finance Limited) v. The Securities and Exchange Board of India
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.
What the Court ordered
We are of the view that the company is not entitled to the benefit under paragraph 4 of the Schedule because there is no continuity.
Judgment, page 7
From the headnote
Securities and Exchange Board of India Act, 1992: s. 15(Z) – Securities and Exchange Board of India (Stock Brokers and Sub Brokers) Regulations, 1992 – Sch. III, para 4 – Fees continuity benefits under – Entitlement to – Conversion of individual membership into a corporate entity – On facts, a member of Calcutta Stock Exchange-CSE, registered as a stock broker, transferred his membership of CSE in favour of the appellant company which was a member of National Stock Exchange- NSE – Appellant company then became the member of CSE and was registered as stock broker of CSE – Appellant company…
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