On October 17, 2025, the Supreme Court Bench comprising Justice Vikram Nath and Justice Sandeep Mehta stayed the effect and operation of (i) the Calcutta High Court’s order dated August 21, 2025, and (ii) the Sessions Court, Alipore judgment dated September 24, 2025, in proceedings arising out of Criminal Revision No. 4314 of 2024 and Criminal Motion No. 213 of 2024.
The High Court had held that notice to UBS Switzerland AG (formerly Credit Suisse (Switzerland) Ltd.), being a foreign entity, was not mandatory under Section 105 of the CrPC in the context of a criminal revision petition. The subsequent order of the Sessions Court proceeded to adjudicate the matter ex parte against the bank, notwithstanding the pendency of UBS’s challenge before the Supreme Court.
Taking note of the submissions, the Court issued notice and directed that the operation of both the impugned orders shall remain stayed until further orders.
Appearances:
UBS Swiss was represented by Senior Advocate Mr Siddharth Aggarwal and CAM Team led by Mr Raunak Dhillon (Partner) and Mr. Ankoosh Mehta (Partner) with Aishwarya Gupta (Principal Associate) and Associates – Gunav Gujral and Advait Shukla.
DPP Securities (Respondent No 2) was represented by Senior Advocate Purvish Malkan and AOR Anant Mishra.
