2020 (1) TMI 1694 - SCH - SEBI

Cornering of the shares meant for retail investors in the IPO of YES Bank - Offences punishable u/s 420, 467, 468 and 471 read with 34 of the IPC - The said F.I.R.s have been lodged by the SEBI - Seeking withdrawal of this petition with liberty to raise the question of effect and legal consequences of Order dated 07.12.2009 passed by the Securities and Exchange Board of India (SEBI), before the High Court. HELD THAT - Prayer is allowed. Accordingly, the special leave petition is dismissed as withdrawn with the liberty aforesaid.

Summary

The Supreme Court allowed the petitioner's prayer to withdraw the petition with liberty to raise the issue of a SEBI order in the High Court. The special leave petition was dismissed as withdrawn with liberty granted. The respondent did not appear in the case. The Chief Justice, Mr. Justice B.R. Gavai, and Mr. Justice Surya Kant were part of the bench. Counsel for the petitioner included Mr. Mukul Rohatgi and others.