Interplay Between Escrow Release Under Buyback Regulations and Independent Fraud Inquiries Under SEBI PFUTP Regulations

sketch of the Supreme Court of India
Case
SECURITIES AND EXCHANGE BOARD OF INDIA v. VEDANTA LIMITED (Supreme Court of India, 09-09-2026)
Law
Securities and Exchange Board of India Act.

Highlights of the Judgment:

  • Examination of whether releasing an escrow deposit under Regulation 15B(8) of the Buyback Regulations bars independent proceedings under the PFUTP Regulations.
  • Analysis of the legal status and non-binding nature of internal departmental file notings.
  • Application of standards of proof for establishing fraud based on historical trading data under the Securities and Exchange Board of India Act, 1992.
  • Supreme Court directions regarding the remand of matters to the Securities Appellate Tribunal to resolve glaring trading data discrepancies.