Petitioner withdrawn writ petition under Article 226 Constitution. Court dismissed petition as withdrawn and closed connected petitions, directing petitioner to approach SEBI directly for relief.
None granted; petition dismissed as withdrawn; no order as to costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
WP No.1766 of 2019
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 02.01.2024
CORAM
THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE
AND
THE HON'BLE MR.JUSTICE D.BHARATHA CHAKRAVARTHY
WP No.1766 of 2019 and WMP Nos.1966 of 2019, 15827 of 2020 and 10952 of 2021
Rakesh P.Sheth
.. Petitioner
-vs-
Page 1 of 4
WP No.1766 of 2019
6. Hema Ramesh
.. Respondents
Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus directing the 1st respondent to exercise its powers under Section 11B of the SEBI Act 1992 to issue necessary and appropriate directions to the 4th respondent to disgorge monies illegally raised through or from th epublic issue of secured redeemable non convertible debentures and unsecured redeemable non convertible debentures as mentioned in the shelf prospectus dated 11.01.2019 and to further direct the 1st respondent to take positive action on the directive issued by the 2nd respondent dated 15.10.2018 and consequently direct the 1st respondent not to permit the 4th respondent, its agents, group entities or any other person/persons claiming through or under the 4th respondent from accessing the money market in any manner whatsoever. (Prayer amended as per order dt.13.03.2020 made in WMP.24196 of 2019)
| For the Petitioner | : | Mr.Vaibhav R.Venkatesh |
|---|---|---|
| For the Respondents | : | Mr.Suresh for R-1 |
| : | M/s.Anuradha Sekar for RR 2 and 3 |
|
| : | Mr.Roshan Balasubramanian for R-4 |
|
| : | Mr.Deepan Uday | |
| for RR 5 to 7 |
Page 2 of 4
WP No.1766 of 2019
ORDER
(Made by the Hon'ble Chief Justice)
The learned counsel for the petitioner, on instructions, submits that with the passage of time, the relief claimed now would not survive and seeks leave to withdraw the writ petition. He further submits that the petitioner may move SEBI for disgorgement.
It is for the petitioner to take appropriate steps with the SEBI as may be permissible under law.
(S.V.G., CJ.) (D.B.C., J.) 02.01.2024 Index : Yes/No Neutral Citation : Yes/No sra
Page 3 of 4
WP No.1766 of 2019
THE HON'BLE CHIEF JUSTICE AND D.BHARATHA CHAKRAVARTHY, J.
(sra)
To
WP No.1766 of 2019
02.01.2024
Page 4 of 4
Rakesh P. Sheth
Securities and Exchange Board of India
Ministry of Corporate Affairs
Serious Fraud Investigation Office
India Infoline Finance Limited (IIFL)
Mahesh Subramanian
Sanjay V. Gangapurwala
D. Bharatha Chakravarty
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
