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HC issues notice to Sahara India, Sri Subrata Roy in SEBI Ad PIL

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  • Amitabh Thakur
    HC issues notice to Sahara India,  Sri Subrata Roy in SEBI Ad PIL   Friends, I feel happy to inform you that the Hon ble High Court seems to have agreed with
    Message 1 of 1 , Mar 22 12:57 AM
    HC issues notice to Sahara India,  Sri Subrata Roy in SEBI Ad PIL
     
    Friends, I feel happy to inform you that the Hon'ble High Court seems to have agreed with our contention and in PIL No 2593/2013 alleging the full page advertisement dated 17 March 2013 by Sahara India Parivar and Sri Subrata Roy Sahara as being against the provisions of law filed in Hon'ble Allahabad High Court, Lucknow Bench today issued notice to both Sahara India and Sri Roy. The notice shall be sent by post and also by-hand. This order was given by the Bench of  Hon'ble  Justice Uma Nath Singh and  Hon'ble Justice Dr Satish Chandra in the PIL filed by me and wife Dr Nutan Thakur. Our counsel Sri Asok Pande presented our case while Sri K C Kaushik, Additional Solicitor General represented the Government of India. The next date of hearing is fixed on 02 April.
     
    The PIL says that a private person and a private organization have openly denigrated and accused SEBI, which is a statutory body established to safeguard the interests of investors and to act as the Market Regulator.  The Ad has also criticized  Hon'ble  Justice B N Agarwal’s conduct while both SEBI and Justice Agarwal are only performing their official duty.  The matter is still sub-judice before the Supreme Court and hence these people could have presented their grievance there. This act of criticizing SEBI through an Ad prima-facie seems to be a criminal misconduct under sections 186 and 189 IPC and provisions of Companies Act 1956.   
     
    Hence we have prayed that a complete ban shall be imposed on all advertisements where any constitutional or statutory body is criticized. They have also asked for enquiry into the issue and necessary subsequent legal actions against Sahara India parivar and Sri Roy.

    Would request for ur comments.
     
     
    Amitabh Thakur
    Lucknow
     # 094155-34526
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