The Supreme Court, in its judgment dated September 2, 2026, allowed appeals filed by NCSL in the Anugrah and Vrise matters and set aside the orders passed by the Member and Core Settlement Guarantee Fund Committee of NSE Clearing Ltd. and the Securities Appellate Tribunal (SAT).
As a result, the directions issued against NCSL under the earlier orders have been set aside, Nuvama Wealth Management said in an exchange filing.
The litigation relates to NCSL’s erstwhile professional clearing member business for domestic brokers, which was previously part of the company’s Asset Services segment. The matter arose from an order by the Member and Core Settlement Guarantee Fund Committee of NSE Clearing directing NCSL to reinstate securities that had been liquidated during the settlement process.
In the Anugrah matter, NCSL had approached the Supreme Court in December 2023, challenging a December 15, 2023 order passed by SAT. The Supreme Court admitted the appeal in January 2026.
A similar matter involving Vrise Securities Pvt. Ltd. was subsequently tagged with the Anugrah matter.
Nuvama Wealth Management shares ended 2.86% higher at ₹1,836 on Wednesday. The stock has gained around 4% over the past month.
