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2023 Supreme(Online)(SEBI) 100

SECURITIES AND EXCHANGE BOARD OF INDIA
SATISH CHANDRA SHARMA, CJ, MR. TUSHAR RAO GEDELA, J
ATUL AGARWAL – Appellant
Versus
UOI & ORS – Respondent


Advocates:
For the Appellants/Petitioners: Mr. Nikhil Tyagi, Mr. Rakesh Kumar Khare
For the Respondents: Mr. Ravi Prakash, Mr.Farman Ali, Ms. Usha Jamval, Ms. Manisha Agrawal Narain, Mr. Sandeep Singh Somaria, Ms. Rakshita Goyal, Mr. Neeraj Malhotra, Mr. Ashish Aggarwal, Mr. Nimish Kumar, Mr. Satyajit Yadav, Ms. Surekha Raman, Mr. Vijay Valasan, Ms. Unnimaya S

Table of Content
1. investor protection mechanisms and statutory powers (Para 1 , 2 , 3 , 4 , 5 , 6)
2. reliefs and requests by the petitioner (Para 7)
3. sebi's regulatory framework and response to allegations (Para 8 , 9 , 10 , 11 , 12 , 13 , 14 , 15 , 16)
4. regulatory measures for investor protection (Para 17 , 18 , 19)
5. delisting procedures and safeguards (Para 20 , 21 , 22 , 23 , 24 , 25 , 26)
6. suspension and re-admission conditions for securities (Para 27 , 28 , 29 , 30 , 31 , 32)
7. ministry's role in investor protection (Para 33 , 34 , 35)
8. powers and duties of sebi for regulating securities market (Para 36 , 37 , 38)
9. appeal mechanisms for aggrieved investors (Para 39 , 40 , 41 , 42 , 43)
10. overall protection regulations for investors (Para 44 , 45 , 46)
11. court's conclusion on investor protection (Para 47 , 48)

JUDGMENT

SATISH CHANDRA SHARMA, C.J.

1. The present petition has been filed as a public interest litigation by the Petitioner Atul Aggarwal who is holding a Bachelor’s Degree in Law stating that he is espousing the cause millions of investors who are being duped by the unscrupulous promoters of the companies as the promoters of the companies vanish after siphoning

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