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The Bombay High Court has quashed Norris Medicines’ obligation to deposit ₹1.33 crore plus interest under the MPID Act, following the acquittal in the related MPID Special Case. The company and its director are no longer required to make the payment, marking a key legal win for Norris Medicines.
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Norris Medicines Limited has secured a significant legal victory after the Bombay High Court allowed its criminal appeal against a previous order mandating the company and its director to deposit ₹1.33 crore plus 18% annual interest under the Maharashtra Protection of Interest of Depositors (MPID) Act. The court’s decision, dated 19 November 2025, sets aside the earlier directive, providing relief to the company and its management.
Key Highlights
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Norris Medicines challenged the MPID order, which required the company and its director to deposit ₹1,32,92,359 along with 18% simple interest annually.
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The Bombay High Court observed that since the underlying MPID Special Case No. 3 of 2003 resulted in acquittal, the deposit order could not be sustained.
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The court ruled that the impugned order is now infructuous and has set aside the requirement to deposit the specified amount.
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This decision marks a major relief for Norris Medicines and its leadership, resolving a long-pending legal matter.
Source: NSE Corporate Announcement, Norris Medicines Limited Announcement
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