Authority: Supreme Court of India
Order Date: 13-07-2026
Case Overview
- Appellant: Securities and Exchange Board of India (SEBI)
- Respondents: NUSLI Neville Wadja & Ors.
- Civil Appeal No(s). 4421/2026, together with related Interim Applications (IA No. 142808/2026, IA No. 153817/2026, IA No. 142770/2026, IA No. 154554/2026, IA No. 142761/2026, IA No. 142773/2026) seeking permission to file additional documents/facts/annexures in CA Nos. 4416/2026, 4450/2026, 4451/2026.
- Hearing conducted on 13 July 2026 before Hon’ble Mrs. Justice B.V. Nagarathna and Hon’ble Mr. Justice R. Mahadevan.
- Counsel for the appellant included Sr. Adv. Arvind P. Datar, Sr. Adv. Navin Pahwa, Adv. Amarjit Singh Bedi, Ms. Surekha Raman, Mr. Shreyash Kumar, Mr. Sidharth Nair, Mr. Harshit Singh, Mr. Yashwant Sanjenbam, and K J John & Co. as AOR.
- Counsel for the respondents comprised Adv. Rohan Kelkar, Ms. Nandini Gidwaney, and a team of senior advocates and firms including Kaushik Poddar, E. C. Agrawala, Dr. Abhishek Manu Singhavi, Darius Khambata, Diwakar Maheshwari, Rohan Kelkar, Rahan Kelkar, Tushar Hathiramani, Arun Unnikrishan, Abhay Jadeja, Jennifer Dadrewala, Shnayana Babbar, Shreyas Edupuganti, Khaitan & Co., Abishek Venkataraman, Mudit Sharma, Ritesh Dhyani, and Shashank Shekhar Pandey.
Final Outcome
- The Court ordered that notice be issued to the respondents.
- Counsel for the respondents accepted the notice.
- Observing that the impugned order is a split verdict (2:1), the Court directed that it shall not be treated as a precedent for similar matters before the Securities Appellate Tribunal.
Topics: Court Proceedings, Securities Regulation