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        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

        Provisions expressly mentioned in the judgment/order text.

        <h1>Supersession of exchange council for systemic mismanagement, with appointment of an administrator to restore governance and protect investors.</h1> Supersession of the Council of Management of the Magadh Stock Exchange was ordered due to systemic mismanagement, governance failures, noncompliance with regulatory directives, breakdown of internal administration, delayed payouts, large unsettled bad delivery liabilities and absence of surveillance. Following issuance of a show-cause notice and opportunities for hearing-during which several members admitted the factual position or failed to respond-the regulator exercised statutory powers to supersede the council for a limited period and appointed an administrator to perform all powers and duties of the council and to take necessary assistance to restore regulatory compliance and protect investor interests.

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