https://www.taxtmi.com/caselaws?id=427165 The Supreme Court held that the SEBI Circular applies to debenture holders implementing a Resolution Plan, with consent requirements specified. The court affirmed the civil court's jurisdiction to entertain challenges to regulatory circulars. The SEBI Circular was given retroactive effect, overriding conflicting provisions in the Debenture Trust Deed. Dissenting debenture holders are bound by the ICA/Resolution Plan if approved by the requisite majority. The court invoked Article 142 to uphold the Resolution Plan, safeguarding small investors' interests. The appeal was partially allowed, with directions under Article 142 to protect retail debenture holders and ensure Resolution Plan implementation. en-us Tue, 30 Aug 2022 00:00:00 +0530 Tue, 11 Feb 2025 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427165 The Supreme Court held that the SEBI Circular applies to debenture holders implementing a Resolution Plan, with consent requirements specified. The court affirmed the civil court's jurisdiction to entertain challenges to regulatory circulars. The SEBI Circular was given retroactive effect, overriding conflicting provisions in the Debenture Trust Deed. Dissenting debenture holders are bound by the ICA/Resolution Plan if approved by the requisite majority. The court invoked Article 142 to uphold the Resolution Plan, safeguarding small investors' interests. The appeal was partially allowed, with directions under Article 142 to protect retail debenture holders and ensure Resolution Plan implementation. Case-Laws SEBI Tue, 30 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427165