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PIL against Sahara Ad openly denigrating SEBI

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  • Amitabh Thakur
    PIL against Sahara Ad openly denigrating SEBI Friends, I feel happy to state that a PIL alleging the full page advertisement dated 17 March 2013 by Sahara
    Message 1 of 1 , Mar 20, 2013
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    PIL against Sahara Ad openly denigrating SEBI

    Friends, I feel happy to state that a PIL 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 has been filed by me and wife Nutan in Allahabad High Court, Lucknow Bench.

    It 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 Hon'ble Justice Agarwal are only performing their official duty. The matter is still sub-judice before the Hon'ble 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. We have also asked for enquiry into the issue and necessary subsequent legal actions against Sahara India parivar and Sri Subrata Roy.

    The PIL is expected to be heard on 22 March before the Bench of Hon'ble Chief Justice Shiva Kirti Singh and Hon'ble Justice D K Arora. Our counsel is Sri Asok Pande.

    Hope you agree with what we say here.

    Amitabh Thakur
    Lucknow
    # 094155-34526
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