Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
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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