Supreme Court Heard Appeals by Professional Clearing Members Against Restitution Orders in F&O Segment Collateral Liquidation. The Court Examined Whether PCMs Are Liable to Reimburse Individual Clients of Defaulting Trading Members for Loss of Collateral Securities, Notwithstanding Absence of Privity of Contract and Lack of Visibility of Client Debit/Credit Positions under Securities Contract (Regulations) Act, 1956 and SEBI Act, 1992....
This appeal arose from disputes in the Futures & Options (F&O) segment of the National Stock Exchange (NSE). The appellants were Professional Clearing Members (PCMs) registered with NSE Clearing Corpo...




