Bombay HC Disposes Petition as 'Not Pressed'; Petitioner May Challenge SEBI Circular Post-Arbitral Award In the case before the Bombay HC, the petitioner decided not to press the petition at this stage, as informed by the appellant's counsel. The court ...
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Bombay HC Disposes Petition as "Not Pressed"; Petitioner May Challenge SEBI Circular Post-Arbitral Award
In the case before the Bombay HC, the petitioner decided not to press the petition at this stage, as informed by the appellant's counsel. The court disposed of the petition as "not pressed," but clarified that the petitioner retains the right to contest the arbitral proceedings and challenge a SEBI circular if necessary after the arbitral award. All rights and contentions of the petitioner remain open for future legal action.
In the case before the Bombay High Court, presided over by Justices Dr. D.Y. Chandrachud and A.A. Sayed, the appellant's counsel, E.P. Bharucha and S. Bharucha, informed the court that the petitioner chose not to press the petition at this stage. The petitioner reserves the right to contest the arbitral proceedings. Consequently, the court disposed of the petition as "not pressed." However, it was noted that all rights and contentions remain open, particularly the petitioner's right to challenge a circular issued by SEBI, should it become necessary after the arbitral award is made. The judgment ensures the petitioner's entitlements are preserved for future legal action if required.
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