Central Depository Services (India) Limited

SAT-appeal

• SAT matter SATV-13907950E686DF4D79327D9D
  Axis Bank may sell securities in columns E and G to recover dues of Rs. 21.61 crores. · Any surplus after recovery must be returned to clients immediately thereafter.
  Appeal: Appeal No. 146 of 2020 disposed of at admission stage on 3 July 2020; grounds left open.
• Alleged failure by the depository participant and depository to ensure payment to the seller before transfer of securities, violating Regulation 32.
  SAT set aside the WTM order dated 20 August 2010 directing the appellant to credit 1,500 ITC shares and benefits to Atreyee Chakraborty's demat account.
  Appeal: Appeal No. 183 of 2010 decided by SAT on 15 February 2011; impugned direction set aside.
• SAT matter SATV-2F0F5A7CAF44FDC67209A8F0
  Appeal disposed of · BSE directed to defreeze the appellants' demat account
  Appeal: Appeal No. 691 of 2024 disposed of by SAT on 12 December 2024; 361-day filing delay condoned
• Unilateral transfer of shares pledged to banks to Karvy clients by SEBI/NSDL without pledgee consent, in violation of Depositories Act and DP Regulations.
  Clarified four weeks from 20 December 2023 applies to Axis Bank and SEBI/NSE/NSDL to implement directions · Misc. Application No. 1681 of 2023 in Appeal No. 35 of 2020 disposed off with no order as to costs
  Appeal: SEBI and NSDL have filed Civil Appeal before Hon'ble Supreme Court against SAT order dated 20 December 2023 - pending
• SAT matter SATV-A3C681403876A3F3EAAAB9A7
  Arbitration proceedings should be completed on or before January 31, 2024 · Misc. Application No. 1532 of 2023 disposed of
  Appeal: Misc. Application No. 1532 of 2023 in Appeal No. 460 of 2023 disposed of vide order dated 05.12.2023
• Arcadia allegedly pledged client securities for bank loan; NSE/CDSL restrained Kotak from invoking pledge till ownership ascertained.
  Held NSE has jurisdiction only against its trading members, not third-party non-members like Kotak · Interim order dated May 18 2021 permitted Kotak to sell Arcadia's own securities per Annexure 2
• SAT matter SATV-4D205B356A2CC015A2E21A28
  Appeal No. 69 of 2007 was decided by adopting the same order as in Appeal No. 68 of 2007 decided on 14 January 2009
  Appeal: Appeal No. 69 of 2007 decided on 14 January 2009; outcome stated to follow the same order as Appeal No. 68 of 2007
• Challenge to interest @12%/18% on delayed annual listing fees during suspension period and CDSL fee computed on pre-reduction capital.
  Appeal allowed in part; claim for refund of interest charged by BSE/NSE rejected · BSE to intimate to CDSL in-principle approval for capital reduction within 4 weeks
  Appeal: Appeal No.769 of 2023 with Misc. Application No.617 of 2024 - heard and reserved 5 Jan 2026, pronounced 29 Jan 2026, allowed in part
• SAT matter SATV-DB33818DE8D0E739284E50C0
  Adjourned by consent, call on 05.11.2024
  Appeal: Appeal No. 769 of 2023 with Misc. Application No. 617 of 2024 pending before SAT, adjourned to 05.11.2024