Authority: Supreme Court of India

Order Date: 07-08-2026

Case Overview

  • Petition for Special Leave to Appeal (C) No.26300/2026 filed by Central Depository Services (India) Limited against the impugned final judgment and order dated 02‑07‑2026 in CAA(L) No.41571/2025 passed by the Bombay High Court.
  • Respondents: Daksha Narendra Bhavsar and an additional respondent (ANR). The petition seeks exemption from filing a copy/certificate of the impugned judgment (IA No.223038/2026).
  • Counsel for petitioner included Solicitor General Mr. Tushar Mehta, senior advocates Dr. Abhishek Manu Singhvi and Mr. Amit Sibal, among others; respondent counsel led by Sr. Adv. Ritin Rai.
  • The matter was heard before Hon’ble Justices J.B. Pardiwala and K. Vinod Chandran on 07‑08‑2026.

Court Directions

1. The Court acknowledged the arguments and indicated that it will examine the matter closely.

2. Notice to be issued, returnable on 10‑09‑2026.

3. Dasti service (service by hand‑delivery) is permitted for the notice.

4. The Solicitor General handed over a demand draft of Rs 1,05,50,058 (Rupees One Crore Five Lakh Fifty Thousand Fifty‑Eight only) with interest, drawn in favour of respondent No. 1, Daksha Narendra Bhavsar. The draft was received by respondent’s counsel.

5. The Court reserves the liberty for the petitioner to recover the draft amount from respondent No. 2, subject to the final outcome of the litigation.

6. The impugned judgment and order of the Bombay High Court are stayed from operation pending the Supreme Court’s further consideration.

Final Outcome

  • The High Court’s judgment dated 02‑07‑2026 is temporarily stayed.
  • A demand draft of Rs 1.05 cr with interest has been issued to the respondent, with the possibility of recovery by the petitioner from the second respondent after final adjudication.

Topics: Legal Proceedings, High Court Judgment Stay