Smita Bhartia And 2 ORS v. Securities And Exchange Board Of India

wp-519-16(4)

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO. 519 OF 2016 Smita Bhartia & Ors ..Petitioners Vs.

Securities And Exchange Board of India ..Respondent Mr. Bhushan Shah a/w Ms Jogan Punjabi i/b Mansukhlal Hiralal & Co. for the Petitioner Mr. Shiraz Rustomjee Senior Advocate, a/w Mr. Nirav Parmar i/b M/s. K Ashar & Co. for the Respondent Mr. R. Meena Assistant Manager, Legal, SEBI, present CORAM :R. M. SAVANT, & SMT. SADHANA S JADHAV, JJ DATE : 2nd AUGUST, 2017 P.C.

The Learned Senior Counsel Mr. Rustomjee appearing for the Respondent states that the Investigation in respect of the complaints made by the Petitioner has been concluded on 20-7-2017 and a report has been submitted to the Whole Time Member of the SEBI who has approved the same. The Learned Senior Counsel further on instructions of Mr. R. Meena, Assistant Manager Legal of the SEBI states that appropriate action would be taken pursuant to the Investigation Report. We accordingly expect the SEBI to take the said appropriate action within reasonable time. The Learned Counsel appearing on behalf of the Petitioner submits that the Kalaniwala and Mistry Report MCX-SX Audit be furnished to mmj

wp-519-16(4) be Petitioners, to which the Learned Senior Counsel Mr. Rustomjee appearing on behalf of the Respondent has serious objection on the ground that the said report is an internal report which has been obtained by the SEBI to facilitate the investigation. Hence having regard to the said objection, we cannot accede to the said request.

With the observations as aforestated, the Writ Petition is disposed of.

[SMT SADHANA JADHAV, J] [R.M.SAVANT, J] mmj