Chandrakant C Shah v. Securities And Exchange Board Of India

JPP 16. PIl 26.25.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION PUBLIC INTEREST LITIGATION NO. 26 OF 2025 Chandrakant C. Shah ... Petitioner V/s.

Securities and Exchange Board of India & Anr. ... Respondents _______________________________________ Mr. Chandrakant C. Shah, Petitioner-in-person _______________________________________ CORAM : ALOK ARADHE, CJ. AND M.S. KARNIK, J.

DATE : 17th APRIL 2025 P.C. :

1.

Heard the Petitioner appearing in-person.

2.

This Public Interest Litigation is filed by the Petitioner under Article 226 of the Constitution of India seeking a writ of mandamus or any other appropriate order or direction to the Respondent No.1 - Securities and Exchange Board of India (SEBI) to prohibit new fund offers of mutual funds under the scheme/plan/banner "Systematic Investment Plan" (SIP) including advertisement. According to him, the nomenclature, narrative propaganda and literature soliciting investments in such schemes is incorrect, false, deceptive, misleading and causing unwarranted confusion in the minds of 1/2

JPP 16. PIl 26.25.doc investors potentially leading to incorrect and wrong investment decisions and thus, seriously prejudicial to the interest of public and investors at large. 3.

The Petitioner claims to be a public interest litigant representing a cause in the interest of the public at large. The Petitioner has not suffered any legal injury. Any of the investor who is aggrieved or suffer a legal injury can always seek remedies for redressal of grievance. We are not inclined to entertain the present Public Interest Litigation at the instance of the present Petitioner.

4.

Keeping the issue involved in the present Petition open, the Public Interest Litigation is rejected.

( M.S. KARNIK, J. ) ( CHIEF JUSTICE ) by JYOTI PRAKASH PAWAR Date:

2025.04.23 10:28:43 +0530 JYOTI PRAKASH PAWAR 2/2