Supreme Court of India · 2022-04-22
THE STATE OF MAHARASHTRA vs 63 MOONS TECHNOLOGIES LTD
- Citation / case number
- SC 2019/31272
- Court
- Supreme Court of India
- Petitioner
- THE STATE OF MAHARASHTRA
- Respondent
- 63 MOONS TECHNOLOGIES LTD
- Author
- HON'BLE THE CHIEF JUSTICE
- Bench
- HON'BLE MR. JUSTICE SURYA KANT HON'BLE THE CHIEF JUSTICE
Judgment text excerpt
The Supreme Court addressed the constitutional validity of the Maharashtra Protection of Interest of Depositors (MPID) Act, focusing on the definitions of 'Deposit' and 'Financial Establishment'. The court analyzed the implications of these definitions in relation to the operations of 63 Moons Technologies Ltd. and the broader regulatory framework. Ultimately, the court upheld the MPID Act, affirming its relevance in protecting depositors' interests.