Securities and Exchange Board Of India vs Rajkumar Nagpal

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2022 Supreme(SC) 867

D. Y. CHANDRACHUD, SURYA KANT, A. S. BOPANNA
Securities and Exchange Board Of India – Appellant
Versus
Rajkumar Nagpal – Respondent

Advocates Appeared:
For the Appellant(s) : Mr. Dhaval Mehrotra, Adv. Mr. Abhishek Singh, Adv. Mr. Sudhansh Sikka, Adv. M/S. K Ashar & Co., AOR
For the Respondent(s): Mr. K.V. Viswanathan, Sr. Adv. Mr. Yohaann Limathwalla, Adv. Mr. Angad Baxi, Adv. Mr. Dheeraj Nair, AOR Mr. Rahul Sangwan, Adv. Mr. Sivagnanam K., Adv. Mr. E. C. Agrawala, AOR Mr. Akshay Puri, Adv. Ms. Shraddha Kulshreshtha, Adv. Mr. Syed Jafar Alam, AOR

Table of Content
1. timeline of debt and legal actions (Para 1 , 2 , 3)
2. high court proceedings for debenture holders' rights (Para 4 , 5 , 6)
3. arguments for sebi circular applicability (Para 16 , 17 , 18)
4. counterarguments against sebi circular applicability (Para 19 , 20)
5. jurisdiction and implications of sebi circular (Para 63 , 64 , 68)
6. interdependence of ica and resolution plan (Para 70 , 72 , 73)
7. final ruling and implications for dissenters (Para 96 , 98 , 99)

D.Y. Chandrachud, J.

A. Facts
	i. The dispute
	ii. The suit before the Bombay High Court
	iii. The impugned judgment

B. Issues
C. Submissions
D. Overview of contractual arrangements
	i. The Debenture Trust Deeds
	ii. Steps taken by the Debenture/Trustee (Vistra)
E. Evolution of the law surrounding the resolution of debts
	i. The framework for the resolution of debt under the COMPANIES ACT 1956
	ii. The RBI Circular dated 6 July 2019 and the legal framework thereafter
	iii. SEBI (Debenture Trustee

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2022 Supreme(SC) 867

D. Y. CHANDRACHUD, SURYA KANT, A. S. BOPANNASecurities and Exchange Board Of India – AppellantVersusRajkumar Nagpal – Respondent

Cases Referred (5)

D. Y. CHANDRACHUD, SURYA KANT, A. S. BOPANNA
Securities and Exchange Board Of India – Appellant
Versus
Rajkumar Nagpal – Respondent