0070-2020 HDFC Bank Limited vs Securities and Exchange Board of India and Others
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Full text
reasoning does not mean that compliance with Section 12 and Regulation 58 is not compulsory or mandatory. Violations of the statute may lead to penalties and even criminal action when permitted and warranted. Nevertheless, given the nature and requirements under Section 12 or Regulation 58, do not by implication or due to conflict overwrite and undo the legislative mandate of Sections 176 and 177 of the Contract Act. We do not read any legislative intent in the Depositories Act and the 1996 Regulations to change the law of pledge requiring issue of reasonable notice; or as allowing
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
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Source: SecMarx — 0070-2020 HDFC Bank Limited vs Securities and Exchange Board of India and Others. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.