Shri. Gulab Rajaram Patil v. Securities And Exchange Board Of India

sr.931.wp.13886.2017.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 13886 OF 2017 Shri. Gulab Rajaram Patil

...Petitioner

Versus

Securities and Exchange Board of India

...Respondent

...

Mr.A.V.Anturkar, Senior Advocate a/w.Mr.S. B. Deshmukh, Mr.Prathmesh Bhargude for the petitioner.

Mr. Roop Basu i/b. The Law Point for the respondent. ...

CORAM : SHANTANU S. KEMKAR & R. G. KETKAR, JJ.

DATE : 18th DECEMBER, 2017.

P.C. :

.

By this writ petition under Article 226 of the Constitution of India, the petitioner has prayed relief in terms of prayer clause (a) of the petition, which reads as under :- "[A] That this Honourable Court be pleased to issue a writ mandamus or writ in the nature of mandamus or any other appropriate writ direction and order under Article 226 of the Constitution of India, 1950, directing the Respondent herein to decide the complaint made by Petitioner to the Respondent under the provisions of Section 15HA of the SEBI Act, dated October, 16, 2014 the complaint dated 24th December, 2014 the complaint dated January, 3, 2017 and the Complaint dated March, 17, 2017 within such time as this Honourable Court may deem fit and be pleased further to direct the Respondent to report the compliance to this Honourable Court."

Vina k 1/2

sr.931.wp.13886.2017.doc 2.

Learned counsel appearing for the respondent on instructions submits that on the basis of petitioner's complaint, the respondent has decided to issue show-cause notice to the concerned Bank. He submits that the show-cause notice will be taken to its logical end as expeditiously as possible.

3.

Learned counsel for the petitioner submits that the petitioner is aged 76 years and as such sometime bound direction be issued to the respondent to complete the process of adjudication on the basis of showcause notice which has been decided to be issued. 4.

Having considered the submissions made by the learned counsel for the petitioner as also learned counsel for the respondent, we find that the respondent has decided to issue show-cause notice (adjudicating process) to the concerned Bank, in the circumstances, we dispose of this petition by directing the respondent to expedite adjudicating process on the basis of the proposed show-cause notice and decide the same as expeditiously as possible keeping in mind that petitioner is of 76 years old and his complaint is of the year 2014.

5.

The petition stands disposed of.

(R.G. KETKAR, J.) (SHANTANU S. KEMKAR, J.) Vina k 2/2