National Spot Exchange Limited vs Union Of India

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2025 Supreme(SC) 833

BELA M. TRIVEDI, SATISH CHANDRA SHARMA
National Spot Exchange Limited – Appellant
Versus
Union Of India – Respondent

Advocates appeared:
For the Petitioner(s):Mr. Atul Nanda, Sr. Adv. Ms. Diksha Rai, AOR Ms. Rameeza Hakeem, Adv. For Respondent(s): Mr. Amit Sibal, Sr. Adv. Mr. Aditya Verma, AOR Mr. Y Suryanarayana, Adv.
Applicant in IA Nos. 42318/2024, 42396/2024 & 42625/2024 : Mr. Vijay Kumar Singh, Adv. Ms. Shivani Tandon, Adv. Mr. Prem Prakash, AOR (Not present) 42625/2024 Mr. Mukesh Kumar Maroria, AOR Mr. Arvind Kumar Sharma, AOR Mr. Aaditya Aniruddha Pande, AOR Mr. Sachin Patil, AOR Mr. Himanshu Chaubey, AOR Mr. Vikalp Mudgal, AOR Mr. Shashwat Anand, AOR Ms. Abha Jain, AOR Mr. Ashok Kumar Gupta II, AOR Mr. Bijoy Kumar Jain, AOR Mr. Bhaskar Aditya , AOR Mr. Ankur Mittal, AOR Ms. Sanjana Saddy, AOR Mr. Mohd. Zahid Hussain , AOR Mr. Y. Raja Gopala Rao, AOR Mr. Gopal Singh, AOR Ms. Arti Singh, AOR (Through VC) Mr. Chand Qureshi, AOR Mr. Shashank Singh, AOR Mr. Sumit Sinha, AOR Mr. Ratish Kumar Sharma, AOR Mr. Ananta Prasad Mishra, AOR Mr. Sanyat Lodha, AOR Mr. B. K. Satija, AOR Mr. Nitesh Ranjan, AOR Mr. Sanjay Kapur, AOR Mr. Shiv Sagar Tiwari, AOR Ms. Anindita Mitra, AOR Mr. Ajay Kumar, AOR Mr. Satish Vig, AOR Mr. Anand Varma, AOR Mr. Navneet R., AOR Mr. Nikhil Jain, AOR Mr. Ritwik Parikh, AOR Mr. Rajat Sehgal, AOR Ms. Shisba Chawla, AOR

Table of Content
1. the court addresses creditor rights concerning attached properties. (Para 1 , 2 , 3)
2. secured creditor claims challenged against pmla provisions. (Para 4 , 5 , 6)
3. ibc moratorium implications on available assets for decree execution. (Para 7 , 8)
4. recognition of investor protections under state law. (Para 9 , 10)
5. court confirms orders as valid and enforceable. (Para 11 , 12)

JUDGMENT :

1. While considering the validity of the orders dated 10.08.2023 and 08.01.2024 passed by the Supreme Court Committee appointed by this Court vide the order dated 04.05.2022, following two questions were framed by this Court to be heard in priority on the basis of the categorisation of the Applications filed in the captioned Writ Petition vide the Order dated 02.04.2024.

2. The genesis of the Writ proceedings, is the scam which took place at the Commodity Exchange Platform of the Petitioner Company – National Spot Exchange Limited (NSEL), a company registered under the Companies Act, 1956, on 18.05.2005. It is promoted by 63 Moons Technologies Limited (Formerly Financial Technologies India Limited), which holds 99.99% of total share capital of the company and the National Agricul

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2025 Supreme(SC) 833

BELA M. TRIVEDI, SATISH CHANDRA SHARMANational Spot Exchange Limited – AppellantVersusUnion Of India – Respondent

Cases Referred (14)

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BELA M. TRIVEDI, SATISH CHANDRA SHARMA
National Spot Exchange Limited – Appellant
Versus
Union Of India – Respondent