I. Unnikrishnan v. Union of India
Case brief
What is this about?
Petitioners, unregistered Debenture Trustees appointed by an NBFC, challenged a SEBI show-cause notice alleging violation of SEBI registration norms. The Court held that SEBI has jurisdiction over NBFC securities transactions and dismissed the writ petitions, allowing SEBI to adjudicate the matter.
What did the court decide?
Writ petitions were dismissed with a direction to the petitioners to approach SEBI to agitate their objections.