2021 (1) TMI 1113

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....rest litigation registered as W.P.No.3635/2020 with a prayer inter alia for a writ of mandamus and to direct respondents no. 1 to 10 therein to constitute a multi-disciplinary investigation team to *investigate and prosecute the offences alleged to have been- committed by Mr.A.H.Prem ji (respondent No. 11 therein) and his associates, set out in its representations dated January 30, 2020 and February 3, 2020 submitted to respondents No. 1 to 6 therein. He submitted that respondent No.8 in the PIL is the Chairman, Security and Exchange Board of India ("SEBI" for short). This writ petition is filed against four respondents of which, the Chairmen, SEBI is the first respondent. Adverting to the prayers in this writ petition, Shri Ganesh submitte....

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....de in paragraph No. 13 of this writ petition. 7. In paragraph No.19 of PIL, it is stated that three companies gave away 29,55,27,000 shares of WIPRO Ltd. worth Rs. 12799.27 Crores to Azim Premji Trust. The very same averment is made in paragraph No.18 of this writ petition. The petitioner has further averred in paragraph No. 19 in this writ petition that the transaction of acquisition in 2013 were not exempted from the 2011 SEBI Regulations. Thus, the principle grievance of petitioner is violation of SEB! Regulations in the aforesaid transactions, 8. in the PIL, the petitioner has prayed for a direction against first respondent, Ministry of Law and Justice to recover from Mr.A.H.PremJi and his associates all assets removed from the compan....

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....3, 2020 which were annexed to the PIL. 13. Representation dated January 30, 2020 is addressed to the Secretary to the Government of India, Ministry of Finance, Secretary, Ministry of Corporate Affairs, Secretary, Ministry of Law and Justice, Revenue Secretary, Ministry of Finance and the Home Secretary. It is stated therein that despite not having any financial or economic interest in three companies namely Vidya Investment, Regai v Investment and Nepean trading, Shri A.H.Premji has taken over the assets over Rs. 50,000 Crores to his private entities by colourable transactions between 2010 to 2014 by violating SEBI Takeover Code and sought for immediate action. 14. In its representation dated February 3, 2020 addressed to the Secretary, M....

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....Code of Civil Procedure should be extended in the interest of administration of justice to the cazes of withdrawal of writ petition also, not on the ground of res judicata but on the ground of 'public policy'. It is further held that while the of a writ petition filed in a High Court without permission to file a fresh writ petition may not bar other remedies like a suit or a petition under Article 32 of the Constitution of India since such withdrawal does not amount to res judicata, the remedy under Article 226 of the Constitution of India should be deemed to have been abandoned by the petitioner in respect of the cause of action relied on in the writ petition when he withdraws it without permission. 20. As noted hereinabove, praye....