2024 (1) TMI 588 - SCH - SEBI

Issue of the Non-Convertible Debentures (NCDs) without complying with the listing provisions - Liability of directors - 'officer in default' - HELD THAT - Learned counsel for the appellants have made an attempt to distinguish the role as assigned to the appellants as Directors. But at present, we are not influenced by such submissions. In view of the above, the civil appeals stand dismissed. Pending applications stand disposed of.

Summary

The Supreme Court dismissed Civil Appeal No. 5091 of 2019 titled Sanjay Raghunath Prasad Gupta v. Securities and Exchange Board of India. The court was not influenced by the appellants' attempts to distinguish their roles as Directors. The civil appeals were dismissed and pending applications were disposed of.