In Bhagwati Developers Pvt Ltd v Peerless General Finance & Investment Company Ltd and Anr, the Supreme Court held that the provisions of the Securities Contracts (Regulation) Act, 1956, (SCRA) cover unlisted securities of a public limited company.
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The update of court judgments is compiled by Bhasin & Co, Advocates, a corporate law firm based in New Delhi. The authors can be contacted at lbhasin@bhasinco.in or lbhasin@gmail.com. Readers should not act on the basis of this information without seeking professional legal advice.