Ishwar Medical Services Ltd

Whether no penalty u/s 15C of SEBI Act can be imposed on Unlisted Company for failure to take necessary steps to redress the pending investor complaints - YES: SEBI

- Directions Imposed: SEBI

Nikesh Tarachand Shah Vs UoI

Whether grant of bail depending upon circumstances, which have nothing to do with the offence of money laundering, is manifestly arbitrary and providing a procedure which is not fair or just, hence, it violates both Articles 14 and 21 of the Constitution - YES: SC

Whether since a person who may prove reasonable grounds for believing that he is not guilty of money laundering, yet be denied bail because of inability to prove that he is not guilty of the scheduled or predicate offence, leads to a manifestly arbitrary, discriminatory result which invalidate Section 45 - YES: SC

Whether since classification based on sentence of imprisonment of more than three years have no rational relation to the object of attaching and bringing back into the economy large amounts by way of proceeds of crime, the same is manifestly arbitrary and therefore, not justified - YES: SC

- Writ petition allowed: SUPREME COURT OF INDIA

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