Geojit Financial Services Ltd v. Securitites And Exchange Board Of India

23 wp 6190 of 2018.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO.6190 OF 2018 Geojit Financial Services Ltd.

...

Petitioner versus Securities and Exchange Board of India ...

Respondent Mr. Mayur Faria, for Petitioner.

Mr. Raghav Shekhar I/by The Law Point, for Respondent. CORAM: AKIL KURESHI & S.J. KATHAWALLA, JJ.

DATE: 18 th JULY, 2019 P.C.:

1.

The Petitioner's short grievance is that the SEBI has not passed any final order or report pursuant to the order dated 5 th June, 2009 in RTS proceedings under Section 11 of the SEBI Act.

2.

Learned Counsel for the SEBI drew our attention to an order dated 16th April, 2018 passed by the Division Bench of this Court, in which an ad-interim relief in terms of prayer clause (c) to the Petitioner therein has been granted. He submitted that by virtue of this injunction, the SEBI was unable to complete the investigation and pass final order.

3.

This being the sole ground on which the SEBI is unable to complete the proceedings, we do not see any directions are required to be issued as prayed for by the Petitioner. It would be open for the Petitioner to take legal options and if so advised SSP 1/2

23 wp 6190 of 2018.doc and permissible otherwise in law, seek vacation of the said interim order. We express no opinion with respect to the same. The Writ Petition is accordingly disposed of. ( S.J.KATHAWALLA, J. ) ( AKIL KURESHI, J. ) SSP 2/2