Executive Summary:
This document contains two notifications from the Ministry of Finance, Department of Economic Affairs, concerning the designation of special courts. The notifications, dated July 17, 2019, designate specific courts as Special Courts under the Securities and Exchange Board of India Act, the Securities Contract Regulation Act, and the Depositories Act.
Key Points / Main Content:
Notification S.O. 2569(E):
* Designates the Court of Sessions Judge, Imphal East, as the Special Court for the State of Manipur.
* Designates the II Additional District and Sessions Court, Puducherry, as the Special Court for the Union Territory of Puducherry.
Notification S.O. 2570(E):
* Designates Court No. 22, City Civil and Sessions Court, Mumbai and Court No. 39, City Civil and Sessions Court, Greater Mumbai as Special Courts for the State of Maharashtra.
* Supersedes previous notifications S.O. 1060(E) (dated April 21, 2015) and S.O. 1618(E) (dated June 17, 2015), except for actions already completed or omitted before this suppression.
Impact Analysis:
Courts Mentioned:
* Impact: The designated courts will now exercise jurisdiction as Special Courts under the specified Acts within their respective regions.
* Action Required: Prepare to handle cases falling under the Securities and Exchange Board of India Act, the Securities Contract Regulation Act, and the Depositories Act.
State and Union Territory Governments (Manipur, Puducherry, and Maharashtra):
* Impact: The State of Manipur, the Union territory of Puducherry, and the State of Maharashtra will have designated special courts for cases under the specified acts.
* Action Required: Ensure coordination with the newly designated special courts.
Ministry of Finance and Related Departments:
* Impact: The Ministry is responsible for implementing and overseeing the designation of special courts.
* Action Required: Ensure effective communication and coordination with the designated courts and relevant stakeholders.
Securities and Exchange Board of India (SEBI):
* Impact: SEBI's regulations and enforcement actions will be handled by the designated special courts.
* Action Required: Work with the designated special courts to ensure efficient handling of cases related to securities and exchange regulations.
Key Entities Referenced
Securities and Exchange Board of India Act, 1992: An Indian law, specifically section 26A, that confers powers related to special courts.
Securities Contract Regulation Act, 1956: An Indian law, specifically section 26A, that confers powers related to special courts.
Depositories Act, 1996: An Indian law, specifically section 22C, that confers powers related to special courts.
Central Government: The executive authority of the Government of India, responsible for designating special courts.
Court of Sessions Judge, Imphal East, Manipur: A designated Special Court in the State of Manipur.
Puducherry: A Union Territory of India
Maharashtra: A state in India
Court No. 22, City Civil and Sessions Court, Mumbai: A designated Special Court in the State of Maharashtra.
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[फा. सं. 10/49/2017-भाग]
आनंद मोहन बजाज, संय/ु सिचव (िव-ीय बाजार)
3668 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 17th July, 2019
S.O. 2569(E).—In exercise of the powers conferred by section 26A of the Securities and Exchange Board of
India Act, 1992 (15 of 1992), section 26A of the Securities Contract (Regulation) Act, 1956 (42 of 1956) and section 22C
of the Depositories Act, 1996 (22 of 1996), the Central Government, after obtaining the concurrence of the respective
Chief Justices of the Hon’ble High Courts having jurisdiction over the courts mentioned in column (2) in the Table below,
hereby designates the said courts as Special Courts under the aforesaid Acts to exercise jurisdiction in the respective State
and Union Territory, as mentioned in corresponding entry in column (3) thereof, namely:-
TABLE
S.No. Existing Court Jurisdiction as Special Court
(1) (2) (3)
1. Court of Sessions Judge, Imphal East State of Manipur
2. II Additional District and Sessions Court, Puducherry Union territory of Puducherry
[F.No.10/49/2017 (Part)]
ANAND MOHAN BAJAJ, Jt. Secy. (Financial Markets)
अअअअििििधधधधससससचचूूचचूू ननननाााा
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[फा. सं. 10/49/2017-भाग]
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NOTIFICATION
New Delhi, the 17th July, 2019
S.O. 2570(E).—In exercise of the powers conferred by section 26A of the Securities and Exchange Board of
India Act, 1992 (15 of 1992), section 26A of the Securities Contract (Regulation) Act, 1956 (42 of 1956) and section 22C
of the Depositories Act, 1996 (22 of 1996) and in suppression of the notifications of the Government of India in the
Ministry of Finance (Department of Economic Affairs), number S.O. 1060(E), dated the 21st April 2015 and
S.O. 1618(E), dated the 17th June 2015, published in the Gazette of India, Extraordinary, Part II, Section 3,
Sub-section (ii), except as respects things done or omitted to be done before such suppression, the Central Government,
after obtaining the concurrence of the Hon’ble High Court of Bombay, hereby designates, Court No. 22, City Civil and
Sessions Court, Mumbai and Court No. 39, City Civil and Sessions Court, Greater Mumbai as Special Courts under the
aforesaid Acts to exercise the jurisdiction throughout the State of Maharashtra.
[F. No. 10/49/2017 (Part)]
ANAND MOHAN BAJAJ, Jt. Secy. (Financial Markets)
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