Small Investors Welfare Association Thr Its Authorised Representative M. Acharekar, S/O K.Acharekar v. Union Of India Throu. The Sec. Ministry Of Finance And ORS
2025:BHC-AS:26539-DB Sayyed 9-WP.10839.2024.docx IN IN THE THE HIGH HIGH COURT COURT OF OF JUDICATURE JUDICATURE AT AT BOMBAY BOMBAY CIVIL APPELLATE JURISDICTION CIVIL APPELLATE JURISDICTION WRIT PETITION NO.10839 OF 2024 WRIT PETITION NO.10839 OF 2024 Small Investor's Welfare Association Small Investor's Welfare Association ...
...Petitioner
Petitioner
Versus
Versus
Union of India & Ors.
Union of India & Ors.
...
...Respondents
Respondents _____________________________________________________ Mr. Chandrakirti S. Zende for the Petitioner. Mr. Chandrakirti S. Zende for the Petitioner. Mr. Prathamesh Kamath a/w Ms. Shivani Kumbhojkar i/b. The Law Mr. Prathamesh Kamath a/w Ms. Shivani Kumbhojkar i/b. The Law Point for Respondent No.2-SEBI.
Point for Respondent No.2-SEBI.
Mr. Vishal Kanade a/w Mr. Anubhav Ghosh & Mr. Vivek Shah i/b. Mr. Vishal Kanade a/w Mr. Anubhav Ghosh & Mr. Vivek Shah i/b. Trilegal for Respondent No.3-NSE.
Trilegal for Respondent No.3-NSE.
Mr. Manish Chhanagani a/w Mr. Abhay Chauhan & Mr. Atul Agrawal Mr. Manish Chhanagani a/w Mr. Abhay Chauhan & Mr. Atul Agrawal i/b. The Law Point for Respondent No.4-BSE.
i/b. The Law Point for Respondent No.4-BSE.
_____________________________________________________ CORAM :
M. S. Sonak & Jitendra Jain, JJ.
DATED : 2 July 2025 PC.:- 1.
Heard learned counsel for the parties.
Heard learned counsel for the parties.
2.
We have made a separate order disposing of the connected We have made a separate order disposing of the connected Writ Petition (L) No.35423 of 2023.
Writ Petition (L) No.35423 of 2023.
3.
The learned counsel for the Respondents point out that The learned counsel for the Respondents point out that identical issues arise insofar as the National Stock Exchange Circular is identical issues arise insofar as the National Stock Exchange Circular is concerned. They point out that in addition, in this petition, a similar concerned. They point out that in addition, in this petition, a similar Circular issued by the BSE has also been challenged. Circular issued by the BSE has also been challenged. 4.
Accordingly, by following our order in the connected petition, Accordingly, by following our order in the connected petition, we dispose of this petition by giving the Petitioner liberty to challenge we dispose of this petition by giving the Petitioner liberty to challenge the 2024 Circular and also renew the challenge to the BSE Circular, if the 2024 Circular and also renew the challenge to the BSE Circular, if they so desire. However, we clarify that all contentions of all parties, they so desire. However, we clarify that all contentions of all parties,
Sayyed 9-WP.10839.2024.docx including the objections raised by the Respondents to the including the objections raised by the Respondents to the locus standi locus standi of of the Petitioner is kept explicitly open.
the Petitioner is kept explicitly open.
5.
This petition is disposed of with liberty in the above terms. No This petition is disposed of with liberty in the above terms. No costs.
costs.
(Jitendra Jain, J.) (M. S. Sonak, J.) Signed by: Sayyed Saeed Ali Designation: PA To Honourable Judge Date: 03/07/2025 15:54:52