2021 (2) TMI 570 - SC - SEBI

Winding up proceedings of Mutual fund scheme - objections to the e-voting results - HELD THAT - As learned senior counsel appearing for some of the objectors who prays for some time to place on record the new facts which have come to their knowledge today by way of an application. She is permitted to file an application within three days. Response/reply thereto if any could be filed within three days thereafter. List on 01.02.2021 at 2 00 p.m. - on the said date we would first examine the objections to the e-voting results and the issue/question whether or not disbursal/payment to the unit holders should be made. Interpretation of the Regulations and other aspects would be be examined and decided thereafter.

Summary

Issues involved:
1. Request for time to submit new facts by the objectors
2. Examination of objections to e-voting results
3. Decision on disbursal/payment to unit holders
4. Interpretation of regulations and other aspects

Analysis:
1. The judgment begins with the court hearing a request from Ms. Meenakshi Arora, a senior counsel representing some objectors, seeking time to present new facts discovered recently. The court grants permission for filing an application within three days and allows responses/replies within the subsequent three days.

2. The court sets a date for further proceedings on 01.02.2021 at 2:00 p.m. On this date, the primary focus will be on examining the objections raised regarding the e-voting results. The court indicates a thorough review of the objections before moving on to the crucial decision of whether disbursal/payment should be made to the unit holders.

3. It is explicitly clarified that the issue of disbursal/payment to the unit holders will be a key consideration during the proceedings. The court emphasizes the importance of addressing this matter alongside the objections to the e-voting results.

4. Additionally, the judgment highlights that the interpretation of the relevant regulations and other associated aspects will also be thoroughly examined and decided subsequent to the assessment of objections and the disbursal/payment issue. This indicates a comprehensive approach by the court in analyzing all pertinent legal and regulatory aspects surrounding the case.