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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Supreme Court Allows Appeal in Public Trust Election Dispute, Upholding Change Report Under Bombay Public Trusts Act, 1950. Working President Had Authority to Convene Election Meeting and Defaulting Members Were Not Entitled to Notice Under Section 15 of Societies Registration Act, 1860.

The appeal arose from a dispute over a change report filed under the Bombay Public Trusts Act, 1950, regarding elections in Shikshan Prasarak Mandal, ...

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Bombay High Court Allows Writ Petition Challenging Rejection of Nomination for Cooperative Bank Election. Disqualification under Section 73EA of Maharashtra Cooperative Societies Act, 1960 applies to societies, not individual delegates.

The petitioner, Babasaheb Devidasrao Borade, was a director and member of the managing committee of respondent No. 4, Vividh Karyakari Seva Sahkari So...

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Supreme Court Allows Priority to Secured Creditors Over Attached Assets in NSEL Scam Case. Secured Creditors Under SARFAESI Act and RDB Act Have Priority Over Attachments Under PMLA and MPID Act, and Moratorium Under IBC Does Not Bar Execution Against Properties Attached Under MPID Act.

The Supreme Court in this judgment addressed two priority questions of law arising from the NSEL scam, where the petitioner, National Spot Exchange Li...

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Supreme Court Dismisses Chit Fund Foreman's Appeal for Recovery of Future Installments. Holds that chit subscriber's liability for future installments is a contractual obligation, not a debt in praesenti, under Chit Funds Act, 1982.

The present appeal arose from a chit fund conducted by M/s Oriental Kuries Ltd. (appellant) from 1978 to 1990. The respondents were subscribers who de...