https://www.taxtmi.com/caselaws?id=257686 The Court dismissed the Public Interest Litigation challenging SEBI's de-recognition of stock exchanges, ruling that the petitioner lacked standing and failed to demonstrate harm to public interest. Emphasizing the misuse of PIL, the Court highlighted the need for genuine cases and rejected frivolous petitions. The judgment stressed that PIL is for matters affecting public interest, not individual grievances, and that investors impacted by de-recognition are not socially or economically disadvantaged. The Court upheld SEBI's guidelines for companies affected by de-recognition to seek listing elsewhere or provide exit options for shareholders. en-us Tue, 08 Jul 2014 00:00:00 +0530 Tue, 03 Mar 2015 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257686 The Court dismissed the Public Interest Litigation challenging SEBI's de-recognition of stock exchanges, ruling that the petitioner lacked standing and failed to demonstrate harm to public interest. Emphasizing the misuse of PIL, the Court highlighted the need for genuine cases and rejected frivolous petitions. The judgment stressed that PIL is for matters affecting public interest, not individual grievances, and that investors impacted by de-recognition are not socially or economically disadvantaged. The Court upheld SEBI's guidelines for companies affected by de-recognition to seek listing elsewhere or provide exit options for shareholders. Case-Laws Indian Laws Tue, 08 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257686