Amit Kumar Vs State of U.P. and 6 Others

Court No. - 21

Case :- WRIT - C No. - 6246 of 2022

Petitioner :- Amit Kumar Respondent :- State Of U.P. And 6 Others Counsel for Petitioner :- Usha Srivastava,Arjit Srivastava,Vinod Kumar Srivastava Counsel for Respondent :- C.S.C.

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Hon'ble Manoj Kumar Gupta,J. Hon'ble Dr. Yogendra Kumar Srivastava,J.

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The petitioner has made certain monetary investments by way of fixed deposits with respondent no. 4, i.e. KBCL India Pvt. Ltd., a company said to be registered with the Registrar of Companies, Uttar Pradesh and Uttaranchal, under the Companies Act, 1965. The grievance of the petitioner is that he has not been paid the maturity value of the investments by the said company. Consequently, the instant petition has been filed seeking to enforce the right flowing out of the said transactions.

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Learned counsel for the petitioner submitted that the petitioner has made a representation before respondent no. 2, i.e. Securities and Exchange Board of India and that it is competent to enforce the contract between the petitioner and respondent no. 2.

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If that be so, it is open to the petitioner to press his representation which is stated to be pending before respondent no. 2. As far as the instant writ petition is concerned, we are of the opinion that writ court is not a proper forum for enforcing the contractual obligations arising out of contract of investment of money between petitioner and respondent no. 4., a private entity.

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The petition stands disposed of accordingly.

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(Dr. Y. K. Srivastava, J.) (Manoj Kumar Gupta, J.)

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Order Date :- 30.3.2022/Jaideep/-

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Digitally signed by JAIDEEP BANERJEE Date: 2022.03.31 10:34:22 IST Reason: Location: High Court of Judicature at Allahabad

Amit Kumar v. State of U.P. and 6 Others

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Amit Kumar v. State of U.P. and 6 Others

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