Supreme Court · 2026 INSC 941 · Decided 2 September 2026
Edelweiss Custodial Services Limited v. Nse Clearing LTD. & ANR.
- Court
- Supreme Court of India
- Citation
- 2026 INSC 941 · [2026] 9 S.C.R. 332
- Case number
- CIVIL APPEAL No. 31/2024
- Decided
- 2 September 2026
- Bench
- J.B. PARDIWALA, K. VINOD CHANDRAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Issue arose whether the Professional Clearing Members (PCM) had a statutory obligation to verify the credit/debit positions of the individual clients of the Trading Member (TM) before the collaterals proffered by the TM were liquidated; whether the visibility of such credit/ debit positions of the individual clients of the TM to the PCM; whether Member and Core Settlement Guarantee Fund (MCSGF) Committee, constituted by the NSE Clearing Corporation (NCL), has the power to order restitution of the securities and even if it was conferred
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