SC had passed interim order pertaining to the mutual funds for a period of six months. However, the pandemic situation delayed hearing of accompanying appeal and consequently the resolution of the case. Thus, interim order was modified to the extent that MF units kept with R1 be released subject to the applicant furnishing requisite bank guarantee of equivalent value as that of MF to the satisfaction of the trial court. Para 12-13
Securities and Exchange Board of India v. IL&FS securities services limited and others (2021) 10 SCC 389