2011 (8) TMI 1389 - HC - SEBI

Summary

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.