Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Depositories are not confined to mechanical record-keeping; under the Depositories Act, the 2018 Regulations and approved bye-laws, they owe investor-protection and supervisory duties, including vigilance through enhanced supervision and an early warning mechanism. On the facts described, failure to detect dormant-account movement, off-market transfers and the subsequent pledge of client securities amounted to negligence, so the beneficial owner was entitled to indemnification and the depository could recover from the participant, who acted within the depository framework as the depository's agent. On appellate review, Section 37 permitted no reappreciation where the arbitral award and Section 34 order rested on evidence, disclosed reasons and a plausible view, so interference was refused.
Depositories are not confined to mechanical record-keeping; under the Depositories Act, the 2018 Regulations and approved bye-laws, they owe investor-protection and supervisory duties, including vigilance through enhanced supervision and an early warning mechanism. On the facts described, failure to detect dormant-account movement, off-market transfers and the subsequent pledge of client securities amounted to negligence, so the beneficial owner was entitled to indemnification and the depository could recover from the participant, who acted within the depository framework as the depository's agent. On appellate review, Section 37 permitted no reappreciation where the arbitral award and Section 34 order rested on evidence, disclosed reasons and a plausible view, so interference was refused.
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