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Supreme Court Clarifies SEBI's Jurisdiction in Investor Compensation Claims Under Securities Law. SEBI Lacks Power to Award Direct Compensation but Can Order Disgorgement of Ill-Gotten Gains for Restitution Under Sections 11 and 11B of the Securities and Exchange Board of India Act, 1992.

The dispute originated in 2005 when the Securities and Exchange Board of India (SEBI) issued a show-cause notice to M/s. Vital Communications Limited ...

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Supreme Court Dismisses Appeal Against Refusal to Quash Summons in Cheque Dishonour Case — Factual Defences Cannot Be Adjudicated Under Section 482 CrPC. Legal Presumption Under Section 139 of Negotiable Instruments Act, 1881 Favours Complainant at Pre-Trial Stage.

The appellant, Rathish Babu Unnikrishnan, was the accused in a criminal complaint filed by Satish Gupta (respondent no. 2) under Section 138 of the Ne...

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Supreme Court Dismisses Appeal by Seed Company, Upholds Consumer Status of Small Agriculturist in Buyback Dispute. Cultivation of Safed Musli for Livelihood Held Not Commercial Purpose Under Section 2(d) of Consumer Protection Act, 1986.

The case involves a dispute between M/s Nandan Biomatrix Ltd., a seed company, and S. Ambika Devi, a small landholder. In 2003, the appellant advertis...

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Bombay High Court Dismisses Appeal by Financial Institution in Suit for Recovery of Money Due to Failure to Prove Loan Agreement and Liability of Promoters. Equity Participation by Appellant Did Not Create a Debtor-Creditor Relationship with Respondents.

The appellant, EDC Limited, a financial institution, filed a suit for recovery of Rs. 17,50,000/- with interest against the respondents, M/s. GKB Opht...

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Bombay High Court Enforces Foreign Arbitral Award in Favor of Award Holder Against Award Debtor. Court Rejects Objections Under Section 48 of Arbitration and Conciliation Act, 1996 for Non-Compliance, Incapacity, Natural Justice, and Public Policy.

The case concerns the enforcement of a foreign arbitral award dated 17th January, 2011 passed in London, UK, in favor of Vitol S.A. (the award holder)...