Authority: Supreme Court of India, Bench of Hon'ble Mr. Justice J.B. Pardiwala & Hon'ble Mr. Justice K.V. Viswanathan
Order Date: 22-07-2026
Case Overview
- Parties: Appellant – Securities and Exchange Board of India (SEBI); Respondents – Rajesh Sureshchandra Sheth & others (respondent nos. 1 to 102).
- Nature of proceeding: Civil Appeal No. 5017/2023 concerning securities market matters, with numerous intervening applications (IA Nos. 19662/2025, 23084/2025, 28674/2025, 278332/2025, 18420/2026, 129934/2026, 167422/2025, 130169/2026, 179872/2025, 194693/2025, 156488/2023).
- Counsel: SEBI represented by Solicitor General Tushar Mehta, senior counsels Chander Uday Singh and Pratap Venugopal; Successful Resolution Applicant Kartik Malhotra represented by senior counsel Navin Pahwa; investors’ counsel listed; additional counsel for respondents.
- Proceedings: Solicitor General Tushar Mehta presented the Committee report dated 21‑Nov‑2025, focusing on observations from paragraph 14 onward. The Court noted the need for an early hearing of the main appeal.
Final Outcome
- The main appeal is notified for final hearing on 30‑Sep‑2026 at 02:00 PM; the matter is treated as part‑heard.
- IA No. 129934/2026 (application for impleadment) is allowed; the cause title shall be amended accordingly.
- Notice shall be issued to the newly impleaded parties.
- Dasti service is permitted.
- The interim order issued earlier shall continue until the final hearing.
- The order was digitally signed by Harpreet Kaur on 23‑Jul‑2026 at 17:11:44 IST (signature not verified); Court Master (SH) and Court Master (NSH) also signed.
Topics: Court Order, Securities Regulation, SEBI Litigation