NDA Securities Ltd. vs State (NCT of Delhi)

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2025 Supreme(SC) 818

SUDHANSHU DHULIA, K. VINOD CHANDRAN
NDA Securities Ltd. – Appellant
Versus
State (NCT of Delhi) – Respondent

Advocates appeared:
For the Petitioner(s): Mr. Abhishek Gautam, AOR Mr. Keshari Kumar Tiwari, Adv. Mr. Shubham Soni, Adv. Ms. Varsha Bharti, Adv. Mr. Neeraj Goswami, Adv.
For the Respondent(s): Mr. Raja Thakare, A.S.G.(NP) Mr. Mukesh Kumar Maroria, AOR Mr. Rohit Khare, Adv. Mr. Prakash Gautam, Adv. Ms. Astha Singh, Adv. Mr. Rishikesh Haridas, Adv. Mr. Deepender Hooda, Adv. Mr. C.P.Malik, Adv.

Table of Content
1. introduction to case facts and procedural history (Para 2 , 3 , 4 , 5 , 6 , 7)
2. analysis of high court's errors in judgment (Para 9 , 10 , 11 , 12)
3. decision to set aside high court's order (Para 13 , 14)
4. final order on funds during trial pendency (Para 15 , 16)

JUDGMENT

SUDHANSHU DHULIA, J.

1. Leave granted.

2. The appellant before this court assails the order dated 25.02.2025, passed by the High Court of Delhi, which has allowed a petition under section 482 of the CRIMINAL PROCEDURE CODE (hereinafter ‘CrPC’) filed by respondent no. 2 (through its Director); thereby directing the release of Rs. 15.90 lakhs being withheld by the Bombay Stock Exchange Ltd. (hereinafter ‘BSE’) as payout for sale of certain shares in his favor on superdari subject to him furnishing a Guarantee of the same amount, before the Magistrate Court.

3. The appellant and respondent no. 2 are both companies engaged in the trade of shares/securities and are registered with the BSE. On 07.08.2015, on a complaint made by the appellant (through its Managing Director), under Section 156(3) CrPC, an FIR was registered under Section 420 , 120B of the INDIAN PENAL CODE (hereinafter ‘IPC’). In this

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