SECURITIES & EXCHANGE BOARD OF INDIA (TRUST PET. NO.3/1997) vs CRB CAPITAL MARKETS LTD

Judgment text excerpt

$~J1 * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: 22nd May, 2025 Date of decision: 1st September, 2025 + CO.PET.379/2009 & CO.APPL. 420/2022, 351/2023, 546/2023, 37/2024, 38/2024, 39/2024, 203-04/2024, 506/2024, 403-04/2025. SECURITIES & EXCHANGE BOARD OF INDIA (TRUST PET. NO.3/1997) .....Psetitioner Through: Mr. Pratap Venugopal, Sr. Adv. with Mr. Abhishek Baid and Mr. Praneet Das, Advs. (Mob: 9818515433) versus CRB CAPITAL MARKETS LTD .....Respondent Through: Mr. Avneesh Garg, Ms. Pavitra Singh & Ms. Iptisha, Advs. for Rommel Investment Pvt. Ltd. (M: 9818479699) Mr. Praveen Suri & Mr Sumit Pandey, Advs. (Mob:9369437916) Mr. Rajat Bhalla, Adv. (Mob: 9811661193) Ms. Ruchi Sindhwani, Adv. (Mob:9811533510) Mr. Anuj P. Agarwala, Adv. for applicant in Co.Appl.1007/2018 (Mob: 9811885242) Mr. Karan Malhotra & Mr. Anant Shankar Tripathi, Advs. for applicant in C.A.504/2024 (Mob: 8922037783) Mr. Aman Leekha, Mr. S.K.Tandon & Ms.Nikita Sarma Advs. for Special Committee (Mob: 9871455077) Mr. Sanjay Abbot, Mr. Sidhant Kumar & Mr. Om Batra, Advs. in Co. Appl. 37 and 38 of 2024 (Mob: 9810225856) Mr. Praveen Suri & Mr. Sumit Pandey, Advs. applicant in C.A. No.262/2019 Signature Not Verified Digitally Signed CO.PET. 379/2009 Page 1 of 122 By:DEVANSHU JOSHI Signing Date:01.09.2025 18:02:44 (Mob: 9369437916) Mr. Ashish Aggarwal & Ms. Shivangi Shokeen, Advs. (Mob: 9810077771) Mr. Akhil Sibal, Sr. Adv. with Mr. Abhinav Hansaria & Ms. Sugandh Shahi, Advs. for R-1 (Mob: 9810349842) Mr. Vivek Sibal, Senior Advocate with Mr. Bhuvan Gugnani, Mr. Ninad Dogra & Mr. Rupender Sharma, Advs. for CRB Mr. Pinaki Mishra, Sr. Adv with Mr. Bhuvan Gugnani, Mr. Anuj Kapoor & Ms. Devika Mohan, Advs. (Mob:8130324433) CORAM: JUSTICE PRATHIBA M. SINGH JUDGMENT Prathiba M. Singh, J. INDEX i. Backgroun