IN THE HIGH COURT OF JUDICATURE AT NEW DELHI
WRIT PETITION NO : 825 OF 2001
%04-02-2005
Present : Mr. Somnath Mukherjee for the petitioner
Ms. Alpana Poddar for the respondent.
Ms. Manpreet Kaur for Mr. V.K. Tandon for respondent nos. 4 and 5.
WP (C) NO. 825/2001
The petitioners in this petition - Swarn Bhumi pidit Pariwar Sangha, are a union of agents and investors who are aggrieved by the alleged cheating practiced by respondent No. 6 company and its directors respondent No. 7 who had allured and defrauded the members of the petitioner by promising rosy returns and even their principles has not been returned.
Ms. Alpana Poddar who appears on behalf of respondent No. 3 has drawn my attention to Civil Writ Petition No. 3352/2001 titled S D Bhattacharya Vs. Union of India, where similar relief have been sought by the petitioner, were sought against number of companies who had de-frauded investors by holding out premises of golden returns. The Division Bench had heard the case and given directions from time to time. The up-shot of the litigation has been that the SEBI has undertaken exercise and proceeded against the companies, including the filing of various complaints etc. Police assistance has also been sought where the directors were not transferred. Registrar of Companies has also followed up the matter in this regard. The writ petitions were disposed of vide order dated 22nd January, 2002 directing the SEBI to take appropriate actions.
In this view of the matter, let the petitioner also approach the SEBI with its grievances. The writ petition stands disposed of accordingly
FEBRUARY 4, 2005 Manmohan Sarin J. P