Explained| Retroactive, True Retroactivity, Quasi-retroactivity, and Retrospective: Synonymous or distinct?
“Merely because a law operates on certain circumstances which are antecedent to its passing does not mean that it is retrospective.”
Reliance Commercial
SC upholds applicability of SEBI Circular; but gives a green signal to Reliance Commercial Finance resolution to avoid “unscrambling of resolution process”
“Such unscrambling of the resolution process will not only prove time-consuming, but may also adversely affect the agreed realized gains to the retail debenture holders, who have already consented to the negotiated settlement before the High Court.”