2001 (1) TMI 874

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....apre, J.-By filing this writ under articles 226 and 227 of the Constitution of India, the petitioners claim the following reliefs : "1.It is therefore prayed that the above respondents particularly SEBI may kindly be directed to stop immediately all the public as well as rights issues to whom the SEBI has given permission and are coming in the market in the month of January, 1993, and onwards a....

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....of the Companies Act, and that money is the share-holders' money which should not be utilized by the management for other purposes. 6.The MRTPC may kindly be directed to restrict all the companies coming with premium more than face value of shares and necessary investigation be made. 7.The investors and the shareholders which are actually facing a threat, from the existing companies coming w....

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.... Having perused the petition and the relief claimed, which are reproduced supra, I find no merit in the writ. It seems to be in the nature of public interest litigation. This court cannot in its writ jurisdiction issue such type of general directions to respective bodies of Government of India who are regulating the sale, purchase of shares of public limited companies. Such matters are essentia....