Supreme Court · 2022 INSC 465 · Decided 22 April 2022
The State of Maharashtra v. 63 Moons Technologies LTD.
- Court
- Supreme Court of India
- Citation
- 2022 INSC 465 · [2022] 10 S.C.R. 465
- Case number
- CIVIL APPEAL No. 2748/2022
- Decided
- 22 April 2022
- Bench
- D.Y. CHANDRACHUD, SURYA KANT, BELA M. TRIVEDI (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999: ss. 2(c), 2(d), 4 and 5 - NSEL, Financial Establishment or not - Respondent holds 99.99% of the shareholding of NSEL company - NSEL started operating trading in commodities - It launched contracts for buying and selling of commodities on its trading platform with different settlement periods - Subsequently, there was a fraud involving settlement crises of Rs 5500 crores owed to over 13,000 sellers/investors on the trading platform
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