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SCA/12577/2010 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
SPECIAL
CIVIL APPLICATION No. 12577 of 2010
=========================================================
SATPAL
K YADAV - Petitioner(s)
Versus
SECURITIES
& EXCHANGE BOARD OF INDIA & 2 - Respondent(s)
=========================================================
Appearance
:
MR
NS SHEVADE for
Petitioner(s) : 1,
None for Respondent(s) : 1 -
3.
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE H.K.RATHOD
Date
: 06/10/2010
ORAL
ORDER
Heard
learned advocate Mr. Shevade appearing on behalf of petitioner.
In
respect to grievance raised in present petition by petitioner, let
petitioner may approach respondent No.1 SEBI by way of detailed
representation with all details about transaction which has been
arrived at between the petitioner and respondent Nos.2 and 3 and also
to point out that respondent Nos.2 and 3 have also failed in
discharging their legal obligations, for that, respondent No.1
SEBI is competent authority to take necessary action against
respondent Nos.2 and 3, within a period of one month from the date of
receiving copy of present order.
As
and when respondent No.1 SEBI received such representation from
petitioner, it is directed to respondent No.1 SEBI to consider
the grievance of petitioner and examine it and find out whether
respondent Nos.2 and 3 have failed in discharging their legal
obligation or not in respect of transaction which has been pointed
out by petitioner and thereafter to pass appropriate reasoned order
in accordance with law within a period of four months after giving
reasonable opportunity of hearing to respondent Nos.2 and 3 and
communicate the decision to respective parties, immediately.
In
view of above observation and direction, present petition is disposed
of by this Court without expressing any opinion on merits.
[H.K.
RATHOD, J.]
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