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2025 Supreme(Online)(SEBI) 23

SECURITIES AND EXCHANGE BOARD OF INDIA
Shree Chandrashekhar, CJ, Gautam A. Ankhad, J
BASAVRAJ Alpesh Navinchandra Gosalia – Appellant
Versus
State of Maharashtra – Respondent


Advocates:
For the Appellants/Petitioners: Mr. Mathews Nedumpara
For the Respondents: Mr. Darius Shroff, Mr. Manoj Mohite

Table of Content
1. alleged financial frauds in real estate project demand fir. (Para 1 , 2)
2. prior litigations bar re-agitation via writ. (Para 3 , 4 , 5 , 6 , 7)
3. quashed proceedings preclude fresh fir directions. (Para 8 , 9 , 10)
4. no exceptional grounds for art.226 fir direction. (Para 11 , 12 , 13 , 14)

PER, Shree Chandrashekhar, CJ:

The petitioner seeks a direction to the State of Maharashtra, Union of India, Serious Fraud Investigation Office, Securities and Exchange Board of India, Reserve Bank of India, Commissioner of Police, Mumbai, Senior Inspector of Police, Enforcement Directorate, Central Bureau of Investigation and Economic Offences Wing, Mumbai to register a First Information Report/ECIR or to institute other appropriate proceedings for an independent expeditious, effective and meaningful investigation into the various crimes committed by the respondent nos.11 to 25 and 28 to 46 and their accomplices and agents under sections 406, 409, 420, 421, 120-A read with section 34 of the Indian Penal Code, 1860, Prevention of Money Laundering Act, 2002, Prevention of Corruption Act, 1988 and Foreign Exchange Management Act, 1999. He seeks a further direction to the SEBI, RB

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