Supreme Court - Daily Orders
Ras Al Khaimah Investment Authority vs Matrix Pharmacorp Private Limited on 25 February, 2026
ITEM NO.34 COURT NO.1 SECTION XVII-B
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Civil Appeal No(s).12993-12994/2025
RAS AL KHAIMAH INVESTMENT AUTHORITY Appellant(s)
VERSUS
MATRIX PHARMACORP PRIVATE LIMITED & ANR. Respondent(s)
(IA No. 314889/2025 - APPROPRIATE ORDERS/DIRECTIONS, IA
No.254551/2025 - APPROPRIATE ORDERS/DIRECTIONS, IA No. 294780/2025
– CLARIFICATION/DIRECTION, IA No. 254549/2025 - EXEMPTION FROM
FILING C/C OF THE IMPUGNED JUDGMENT, IA No. 254550/2025 -
PERMISSION TO FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES, IA
No.254544/2025 - STAY APPLICATION)
WITH
C.A. No. 12561-12566/2025 (XVII-B)
(IA No. 314907/2025 - APPROPRIATE ORDERS/DIRECTIONS, IA
No.294787/2025 - APPROPRIATE ORDERS/DIRECTIONS, IA No. 256723/2025
- APPROPRIATE ORDERS/DIRECTIONS, IA No. 256720/2025 - PERMISSION TO
FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES, IA No. 256722/2025 -
STAY APPLICATION)
SLP(C) No. 27277-27279/2025 (XII-A)
(IA No. 11895/2026 - APPROPRIATE ORDERS/DIRECTIONS, IA
No.297354/2025 - APPROPRIATE ORDERS/DIRECTIONS, IA No. 294590/2025
- APPROPRIATE ORDERS/DIRECTIONS, IA No. 240366/2025 - PERMISSION TO
FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES, IA No. 240364/2025 -
PERMISSION TO FILE LENGTHY LIST OF DATES)
SLP(C) No. 35892/2025 (XII-A)
(IA No. 321803/2025 - EXEMPTION FROM FILING C/C OF THE IMPUGNED
JUDGMENT, IA No. 8901/2026 - EXEMPTION FROM FILING O.T., IA
No.321801/2025 - PERMISSION TO FILE ADDITIONAL
DOCUMENTS/FACTS/ANNEXURES, IA No. 321804/2025 - PERMISSION TO FILE
LENGTHY LIST OF DATES)
Date : 25-02-2026 These matters were called on for hearing today.
CORAM : HON'BLE THE CHIEF JUSTICE
HON'BLE MR. JUSTICE JOYMALYA BAGCHI
HON'BLE MR. JUSTICE VIPUL M. PANCHOLI
For Appellant(s) : Dr. Abhishek Manu Singhvi, Sr. Adv.
Mr. Gopal Sankaranarayanan, Sr. Adv.
Dr. Rishab Gupta, Adv.
Signature Not Verified
Mr. Rishabh Kapur, AOR
Digitally signed by
ARJUN BISHT
Date: 2026.02.26
Mr. Siddharth Seem, Adv.
10:09:39 IST
Reason: Mr. Siddharth Venugopal, Adv.
Mr. Tushar Srivastava, Adv.
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For Respondent(s) :Mr. S Niranjan Reddy, Sr. Adv.
Mr. Abhishek Swaroop, Adv.
Ms. Sanya Sud, AOR
Mr. Svs Ravi Kiran, Adv.
Mr. Pradyuman Kaistha, Adv.
Ms. Sana Jai, Adv.
Mr. Mukul Rohatgi, Sr. Adv.
Mr. Shyam Divan, Sr. Adv.
Mr. Indranil Deshmukh, Adv.
Mr. Raunak Dhillon, Adv.
Ms. Saloni Kapadia, Adv.
Ms. Aishwarya Gupta, Adv.
Mr. Karan Gandhi, Adv.
Mr. Jeezan Riyaz, Adv.
Mr. Akshit Singla, Adv.
Mr. Shubh Sahai, Adv.
Mr. Harshit, Adv.
Ms. Anshula Lahoriya, Adv.
Mr. Rongon Choudhury, Adv.
M/s. Cyril Amarchand Mangaldas Aor, AOR
Mr. Neeraj Kishan Kaul, Sr. Adv.
Mr. Raghav Agrawal, Adv.
Ms. Dhanya S Krishnan, Adv.
Mr. Sahil Raveen, AOR
Mr. Balbir Singh, Sr. Adv.
Ms. Aanchal Tikmani, AOR
Mr. Gopal Subramanium, Sr. Adv.
Mr. Atul Nanda, Sr. Adv.
Mr. Ashutosh Ghade, AOR
Ms. Rameeza Hakeem, Adv.
Mr. Pawan Bhushan, Adv.
Mr. Raghav Kohli, Adv.
Mr. Js George, Adv.
Ms. Vartika Aggarwal, Adv.
Ms. Sakshi Bagdi, Adv.
Ms. Saloni Meshram, Adv.
Ms. Madhavi Divan, Sr. Adv.
Ms. Preetika Dwivedi, AOR
Mr. Abhisek Mohanty, Adv.
Mr. Ansh Rajauria, Adv.
UPON hearing the counsel the Court made the following
O R D E R
1. In deference to the previous order dated 12.02.2026, respondent no.5 in SLP(C) Nos.27277-27279/2025 has filed an 2 affidavit, which is taken on record. In a purported attempt to honour the observations, which this Court proposed to issue on the previous date re: furnishing a security comprising INR 600 crores with the Registry of this Court, the deponent – respondent no.5 has offered the following three assets:
(a) The shares and assets allegedly valuing INR 212 crores, which have been attached to the Commercial Courts vide orders dated 05.09.2023 and 06.10.2023.
(b) Medchal Land measuring 37 acres situated at Devarayamjal Village, Shameerpet Mandal, Medchal-Malkajgiri District, Telangana, which was earlier owned by the deponent but has now been transferred in the name of his daughter through a registered Gift Deed No.922/2022. This land, according to the deponent, at present has a value of INR 408 crores.
(c) Additional cash security of INR 125 crores.
2. As regards the first component of the security, namely, shares and other assets attached by the Commercial Courts, we are not inclined to accept the same. Faced with this, Shri Gopal Subramanium, learned Senior Counsel, representing respondent no.5, seeks more time to submit an alternative proposal. The request is accepted.
3. As regard to 37 acres property, known as Medchal Land, let the original title deeds thereof be deposited with the Registrar (Judicial) of this Court with an affidavit of undertaking that the subject land is free from all encumbrances except that it was earlier attached by the Directorate of Enforcement and was released subject to furnishing of an indemnity bond and that this land was 3 further subject to an ad interim injunction that has been granted by the Civil Court on 19.10.2023. In this vein, respondent no.5 shall be obligated to furnish an affidavit along with an undertaking to the effect that the requisite indemnity bond has been furnished, thereby complying with the release order passed by the Appellate Tribunal under the Prevention of Money Laundering Act.
4. Insofar as the third part of the security, namely, additional cash security of INR 125 crores, is concerned, Shri Gopal Subramanium, learned Senior Counsel, on instructions, states that a sum of INR 125 crore shall be entrusted to the Registrar (Judicial) of this Court within one week from today.
5. On doing so, the Registry is directed to keep that amount in the Uco Bank of the Supreme Court in a high-interest-bearing FDR initially for a period of six months with an auto-renewal facility.
6. It goes without saying that the ad interim arrangement regarding the security to be furnished by the respondent(s), to which the petitioner(s) have no objection, shall be without prejudice to the rights of the parties.
7. For the purpose of further instructions, list on 11.03.2026.
(ARJUN BISHT) (PREETHI T.C.)
ASTT. REGISTRAR-cum-PS ASSISTANT REGISTRAR
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