Maharashtra Protection of Interest of Depositors Act, 1999

Supreme Court clarifies priority of secured creditors vs. PMLA and MPID Act in NSEL scam: National Spot Exchange Limited vs. Union of India (2025)

/ Bela M. Trivedi, Constitution of India, Constitution of India with Article 246, Constitution of India with Article 254, Judges, Maharashtra Protection of Interest of Depositors Act, 1999, Maharashtra Protection of Interest of Depositors Act, 1999 with Section 14, Maharashtra Protection of Interest of Depositors Act, 1999 with Section 4, Prevention of Money Laundering Act, 2002, Prevention of Money Laundering Act, 2002 with Section 71, Satish Chandra Sharma

Date of the Judgment: May 15, 2025 Citation: 2025 INSC 694 Judges: Bela M. Trivedi, J., Satish Chandra Sharma, J. In a significant judgment concerning the National Spot Exchange Limited (NSEL) scam, the Supreme Court addressed the conflicting claims between secured creditors and the attachment of assets under the Prevention of Money Laundering Act, 2002 […]

Supreme Court clarifies priority of secured creditors vs. PMLA and MPID Act in NSEL scam: National Spot Exchange Limited vs. Union of India (2025) Read Post »

Supreme Court settles the definition of ‘Financial Establishment’ under MPID Act: State of Maharashtra vs. 63 Moons Technologies Ltd. (2022) INSC 465 (22 April 2022)

/ Bela M Trivedi, Companies Act, 1956, Companies Act, 1956 with Section 396, Dhananjaya Y Chandrachud, Financial Establishment, Judges, Maharashtra Protection of Interest of Depositors Act, 1999, Maharashtra Protection of Interest of Depositors Act, 1999 with Section 2(c), Maharashtra Protection of Interest of Depositors Act, 1999 with Section 2(d), Surya Kant

Supreme Court Upholds MPID Act: NSEL Deemed Financial Establishment LEGAL ISSUE: Whether National Spot Exchange Ltd (NSEL) is a ‘financial establishment’ under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (MPID Act). CASE TYPE: Civil Law, Financial Law Case Name: The State of Maharashtra vs. 63 Moons Technologies Ltd. Judgment Date:

Supreme Court settles the definition of ‘Financial Establishment’ under MPID Act: State of Maharashtra vs. 63 Moons Technologies Ltd. (2022) INSC 465 (22 April 2022) Read Post »

Supreme Court overturns Bombay High Court order on defreezing of bank accounts in MPID case (7 September 2017)

/ Code of Criminal Procedure, 1973, Code of Criminal Procedure, 1973 with Section 102, Criminal Procedure, D.Y. Chandrachud, Judges, Maharashtra Protection of Interest of Depositors Act, 1999, Maharashtra Protection of Interest of Depositors Act, 1999 with Section 14, Maharashtra Protection of Interest of Depositors Act, 1999 with Section 3, N.V. Ramana

LEGAL ISSUE: Whether the High Court can entertain a second application for the same relief after the first one was withdrawn. CASE TYPE: Criminal Law, Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 Case Name: State of Maharashtra vs. Avinash Judgment Date: 7 September 2017 Date of the Judgment: 7 September 2017

Supreme Court overturns Bombay High Court order on defreezing of bank accounts in MPID case (7 September 2017) Read Post »

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