T.Palpandi, v. The Securities And Exchange

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 03.07.2025

CORAM:

THE HONOURABLE MR.JUSTICE S.M.SUBRAMANIAM AND THE HONOURABLE DR.JUSTICE A.D.MARIA CLETE and W.M.P.(MD)No.11129 of 2019 T.Palpandi ... Petitioner Vs.

1.The Securities and Exchange Board of India, Plot No.C4-A, G Block, Near Bank of India Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra-400 051.

2.Madhabi Puri Buch

...Respondents

PRAYER: Petition filed under Article 226 of the Constitution of India, to issue a Writ of Mandamus, directing the 1st respondent SEBI by virtue of exercise of its powers to take necessary actions on the promoter, directors and key managerial personnel of the relevant time of the Commodity Broking Companies which have been declared 'Not Fit and Proper' and also consequentially, declare the Securities Broking Company and other companies regulated by SEBI as 'Not Fit and Proper' 1/4

in the interest of the market participants, pursuant to the representation dated 26.03.2019.

For Petitioner : No Appearance For R1 : No Appearance For R2 : Mr.C.Prasanna Vinoth

ORDER

(Order of the Court was made by S.M.SUBRAMANIAM, J.) When the matter was taken up for hearing on 01.07.2025, none appeared for the petitioner. Thus, Registry was directed to list the matter under the caption 'for dismissal' on 03.07.2025. Therefore, the matter is listed today (03.07.2025). Today also, when the matter is called, none appeared for the petitioner. Thus, this Court has no other option except to consider the case on merits.

2.The learned counsel appearing for the 1st respondent would submit that actions have been initiated against the companies and totally, eleven (11) charge sheets have been filed against the companies. 2/4

3.In view of the fact actions have already been initiated, no further consideration is required. Accordingly, this Writ Petition is dismissed. No costs. Consequently, connected miscellaneous petition is closed. (S.M.S., J.) & (A.D.M.C., J.) 03.07.2025 NCC : Yes / No Index : Yes / No Yuva 3/4

S.M.SUBRAMANIAM, J.

AND DR.A.D.MARIA CLETE, J.

Yuva 03.07.2025 4/4