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A Paradigmatic Shift in Indian Financial Market Jurisprudence
The landmark decision of the Chandigarh State Consumer Disputes Redressal Commission in Jyoti Khemka vs Catalyst Trusteeship Limited and Ors (Appeal No. 58 of 2023) represents a seismic shift in Indian financial market jurisprudence. This groundbreaking judgment, delivered on July 31, 2025, by President Raj Shekhar Attri and Member Rajesh K. Arya, marks the first instance where a consumer forum has held market intermediaries—specifically debenture trustees and credit rating agencies—liable for investor losses arising from corporate defaults.
