Upgrad LLM

writ or pil


Dear All,

I want to file an PIL or WRIT on the SEBI a stock market watchdog for taking so much time in the investigation,ignoring the investors investment,they ban,suspend or delist the companies without informing the investors and the effect is huge loss of wealth on the next day of trading,SEBI knew the effect,there is no mechanism out there to protect the investors investment.

On sept 21,2011 they ban one company from raising further equity,13 months gone by for the investigation and  the company project is very much stuck due to the ongoing investigation and the investors has suffered an huge loss of wealth due to the ban from the sebi,there is no time frame for the outcome.

I want to file an case on the sebi on behalf of 2 lakh shareholders,let me know which is better PIL or WRIT?

Iam from mumbai and how much would be total fees for the writ or pil in the mumbai high court.

 

 

 

 
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Please it urgent....

 
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Lawyer

find out the current status of the investigation, you may move an application under Right to Information Act before the SEBI

 

in case it is discovered that there is some illegality on the part of SEBI then let the proper procedure be adopted as per law.

 

like approaching the finace ministry etc., if there is no such alternative efficacious remedy available then go for Writ Petition before the High Court.

 
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Dear Sir,

 

I file an RTI and the RTI does get publish in the leading newspaper

http://www.thehindubusinessline.com/markets/stock-markets/article3734289.ece

They says ongoing investigation cant be revealed but how much years they will take for the investigation,13 months gone by and there is no time frame,due to the ban and ongoing investigation the innocent investors has to suffered an hige loss.

 

On sept 21, 2011 they ban the company from raising the further equity and the share price has fallen to 0.11 from 0.37 due to the ban,they are not at all protecting the investors though SEBI is setup to protect the investors.

How much will be the total fees for the WRIT in the bombay high court.

 

 

 
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Deart Experts,

 

Please reply...

 
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Dy Director

PIL can be filed by a disinterested person or even by a person slightly inteested in the subject matter being part of a particular class of society.

 

In case of fundamental rights to be protected against the state body you can file writ petition.  Pleae check if you fundamaental right to livelihood (as a part of right to life) or right to profession of your choice is affected.

 
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I want to file on the SEBI on behalf of 2 lakh shareholders.....

 

How much will be the total fees lawyer charges?iam from mumbai

 
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Advocate

regarding 1st part of ur question, u can either

(a) file a public interest litigation seeking writ of mandamus to direct the authorities concerned to frame some mechanism(law) which is the need of the hour; or

(b) file a writ petition seeking writ of mandamus to complete the investigation within a stipulated time (subject to the point of Locus Standi)

 

regarding fee- I have no idea

 
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But whichever lawyers goes ahead to file an PIL will become 101% famous man,nobody has done this before in the past.....

 

 
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lawyer

experts are right ,   this is not case of pil because

sudhir kumar explained what pil is so go to writ

 
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