Pramod Goyal v. Securities And Exchange Board Of India & ORS.

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 8249/2024 & CM APPL.

33971/2024, CM APPL.

53542/2024, CM APPL. 58532/2024 PRAMOD GOYAL .....Petitioner Through:

Ms. Apurva Tyagi, Ms. Kajal, Advs.

versus SECURITIES AND EXCHANGE BOARD OF INDIA & ORS. .....Respondent Through:

Mr. Ashish Aggarwal, Mr. Himanshu Singh, Advs. for R-1 Mr.

Gaurav Mishra, Mr.

Daman Popli, Mr. Sahil Dhawan, Advs. for R-2 Mr. Vidit Gupta, Mr. Trivesh Sharma, Advs. for R-4 to 8 Ms. Shreya Jeet, Mr. Rajat Prakash and Mr. Shivam Takkar, Advs. for R4 to 8

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 17.02.2026 1.

This is a writ petition filed under Article 226 of the Constitution of India seeking the following reliefs:

A. "Mandamus, thereby directing the Respondent No.1, 2 and 3 not to approve the Draft Red Herring Prospectus submitted by the Respondent No.4.

B. Mandamus, thereby directing the Respondents No.1, 2 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 21/02/2026 at 12:32:52

and 3 to take into consideration all the facts detailed in the present writ petition regarding the draft red herring prospectus of the Respondent No.4 for its IPO and reject the same on account of material misstatements and omissions.

C.Mandamus, thereby directing the Respondents No.1, 2 and 3 to take necessary action on the complaint dated 13.05.2024 made by the petitioner and take necessary found to be have committed fraud and other offences. D.Mandamus, thereby directing the Respondent No.1, 2 and 3 to review and investigate the documents provided by respondent No. 4 to obtain various loans from the banks"

2.

Mr. Gupta, learned counsel appearing on behalf of respondent Nos. 4 to 8 states that the draft red hearing prospectus submitted by respondent No. 4 has already been withdrawn.

3.

For the said reasons, the petition has become infructuous. 4.

As far as prayer D is concerned, the petitioner is at liberty to take action in accordance with law.

5.

With these directions, the petition is disposed of. JASMEET SINGH, J FEBRUARY 17, 2026/sp The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 21/02/2026 at 12:32:52