Trustees Association Of India v. Competition Commission Of India And ORS
Gaikwad RD
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION INTERIM APPLICATION NO.20251 OF 2022 IN WRIT PETITION NO. 3781 OF 2022 Competition Commission of India & Anr ...Applicants In the matter between Trustees' Association of India Competition Commission of India & Anr WITH WRIT PETITION NO. 3781 OF 2022 Trustees' Association of India Competition Commission of India & Anr WITH INTERIM APPLICATION NO.20250 OF 2022 IN WRIT PETITION NO. 3791 OF 2022 Competition Commission of India & Anr ...Applicants In the matter between IDBI Trusteeship Services Ltd WITH WRIT PETITION NO. 3791 OF 2022
IDBI Trusteeship Services Ltd WITH INTERIM APPLICATION NO.30620 OF 2022 IN WRIT PETITION NO. 3847 OF 2022 Competition Commission of India & Anr ...Applicants In the matter between SBI Cap Trustee Company Ltd WITH WRIT PETITION NO. 3847 OF 2022 SBI Cap Trustee Company Ltd WITH INTERIM APPLICATION NO.30622 OF 2022 IN WRIT PETITION NO. 3842 OF 2022 Competition Commission of India & Anr ...Applicants In the matter between Axis Trustee Services Ltd WITH WRIT PETITION NO. 3842 OF 2022
Axis Trustee Services Ltd Mr Navroz H Seervai, Senior Advocate, with Farhad Sorabjee & Ms Shanaya Cyrus Irani i/b J Sagar Associates, for the Petitioner in WP 3791/2022.
Mr Farhad Sorabjee & Shanaya Cyrus Irani, i/b J Sagar Associates, for the Petitioners in WP WP/3781/2022, WP/3842/2022 & WP/3847/2022 Mr Somasekhar Sundaresan, with Manu Chaturvedi, Savani Gupte & Warisha Parkar, Sailee Dhayalkar, Abhishek Venkatraman & Viswajit P Deb i/b Samvad Partners, for the Respondents Nos.1 and 2 in WP/3781/2022, WP/3791/2022, WP/3842/2022 & WP/3847/2022.
Mr Mihir Nanivadekar, with Prasad Shenoy, Shashwat Rai & Anusha Guthi, i/b Keystone Partners, for the Respondent No.3 in WP/3781/2022 & WP/3791/2022.
Mr Prasad Shenoy, with Shashwat Rai & Anusha Guthi i/by Keystone Partners, for the Respondent No.3 in WP/3842/2022 & WP 3847/2022.
Mr Vishal Kanade, with Shivani Kumbhojkar i/by The Law Point for the Respondent No.4 (SEBI) in WP/3781/2022, WP/3791/2022, WP/3842/2022, WP/3847/2022 & in IA/20251/2022, IA/20250/2022, IA/30620/2022 & IA/30622/2022.
CORAM
G.S. Patel & Neela Gokhale, JJ.
DATED: 21 st February 2023 PC:- 1.
Mr Seervai has taken many instructions. He states on the basis of those several instructions, including from constituents of
the Trustees Association of India, the composition of which itself has changed during the course of these proceedings, that the Petitioners will, on the basis of the present record in the Writ Petitions as it stands today before us, proceed to a hearing before the Competition Commission of India ("CCI") on all aspects including the jurisdiction of the CCI. It is self-evident that the jurisdictional issue will have to be decided first, one way or the other. We clarify that this does not mean that, should the CCI find that it indeed has jurisdiction, it should defer a consideration on the other aspects to a later date. The CCI will decide the issue of jurisdiction and will pass an order on that issue.
2.
We keep open all contentions on merits. There are also rival contentions regarding the correct interpretation of the two competing statutes, one controlled or regulated by SEBI and the other by the CCI. Mr Sundaresan submits that there are submissions regarding the proper interpretation and meaning of the decision of the Supreme Court in Competition Commission of India v Bharti Airtel Ltd.
1 We have expressed no view on any of these matters. All contentions are expressly kept open. 3.
The Petitions are disposed of in these terms. All pending Interim Applications also stand disposed of as such. ( Neela Gokhale, J) (G. S. Patel, J) Digitally signed by RAJU DATTATRAYA GAIKWAD Date:
2023.02.22 18:37:08 +0530 RAJU DATTATRAYA GAIKWAD (2019) 2 SCC 521.