LAXMICHAND SHAH vs THE CUSTODIAN — C.A. No. 4583/2011

Case under Sebi Act and Securities Laws Including Forward Contract Regulation Act, 1952 and Securities Contracts (Regulation) Act, 1956 : Sebi Act and Securities Laws Including Forward Contract Regulation Act, 1952 and Securities Contracts (Regulation) Act, 1956 Section III. Status: Disposed.

Disposed

CNR: SCIN010153242011

Filing Date

06-May-2011

Registration No

C.A. No. 4583/2011

Diary Number

15324/2011

Order Date

05-Mar-2024

Document Type

ROP - of Main Case

Disposal Type

Appeals Allowed

Last updated 05-Jul-2026

Acts & Sections

SEBI Act and Securities Laws including Forward Contract Regulation Act, 1952 and Securities Contracts (Regulation) Act, 1956 : SEBI Act and Securities Laws including Forward Contract Regulation Act, 1952 and Securities Contracts (Regulation) Act, 1956 Section III

Petitioner(s)

  1. 1.LAXMICHAND SHAH

    Adv. E. C. AGRAWALA

Respondent(s)

  1. 1.THE CUSTODIAN

    Adv. ARVIND KUMAR TEWARI ARVIND KUMAR TEWARI

Case History

  1. Case disposedDisposed

  2. 05-Mar-2024

    Fixed Date by Court

    Hon'ble Mr. Justice B.R. Gavai and Hon'ble Mr. Justice Sandeep Mehta

  3. 06-Dec-2023

    Fixed Date by Court

    Hon'ble Mr. Justice Pamidighantam Sri Narasimha and Hon'ble Mr. Justice Sandeep Mehta

  4. 06-Dec-2023

    Fixed Date by Court

    Hon'ble Mr. Justice Pamidighantam Sri Narasimha and Hon'ble Mr. Justice Sandeep Mehta

  5. 23-Nov-2023

    First hearing

    Initial hearing scheduled

  6. 08-Dec-2016

    ROP - of Main CaseView PDF

  7. 08-Dec-2016

    ROP - of Main CaseView PDF

  8. 01-Sep-2016

    ROP - of Main CaseView PDF

  9. 01-Sep-2016

    ROP - of Main CaseView PDF

  10. 27-Feb-2015

    ROP - of Main CaseView PDF

  11. 27-Feb-2015

    ROP - of Main CaseView PDF

  12. 05-Dec-2014

    ROP - of Main CaseView PDF

  13. 05-Dec-2014

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  14. 24-Nov-2014

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  15. 24-Nov-2014

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  16. 27-Oct-2014

    ROP - of Main CaseView PDF

  17. 27-Oct-2014

    Office Report - of Main CaseView PDF

  18. 27-Oct-2014

    ROP - of Main CaseView PDF

  19. 26-Sep-2014

    ROP - of Main CaseView PDF

  20. 26-Sep-2014

    Office Report - of Main CaseView PDF

  21. 26-Sep-2014

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  22. 05-Sep-2014

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  23. 05-Sep-2014

    Office Report - of Main CaseView PDF

  24. 14-Aug-2014

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  25. 01-Jul-2014

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  26. 14-Mar-2014

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  27. 13-Mar-2014

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  28. 23-Apr-2012

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  29. 04-Apr-2012

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  30. 06-May-2011

    Case filed

    Registration No. C.A. No. 4583/2011

  31. [ 2024 INSC 170 ]

    Judgement - of Main CaseView PDF

Common Record of Proceedings — heard with connected matters

Lead case: C.A. No. 4577/2011

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casestatus.in Summary

SUMMARY The Supreme Court allowed Civil Appeals 4577 and 4583 of 2011, quashing the Special Court's March 2011 judgments that directed Suman L. Shah and Laxmichand Shah to repay Rs. 50 lakhs and Rs. 25 lakhs respectively to the Custodian. The Court found the Custodian failed to prove the debt existed, as the crucial Income Tax Department letter was unverified and no proper witness testimony supported the recovery claims; ordered reimbursement of the Rs. 2.20 crores deposited by appellants. This case analysis is maintained by casestatus.in based on publicly available court records.

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