BRIJESHWAR JAISWAL Vs. SEBI

JUDGEMENT

(1.) Vide the instant petition, the petitioner has sought to quash the complaint case No. 19/05 dated 26.11.2009 and its subsequent proceedings pending before the trial court, titled as "Securities and Exchange Board of India v. Maha Bhairav Plantation and Finance ltd.".

(2.) The facts of the instant case, in brief, are that the petitioner incorporated a company in the year 1995 under the name and style of Maha Bhairav Plantation Pvt. Ltd. having its registered office at 308, Vinay Place, 11, Ashoka Marg, Lucknow-226001. The Government of India issued a Press Release on 26.11.1997 and, thereafter, a public notice dated 18.12.1997 was issued calling upon all the companies engaged in collective investment scheme to file their details. In the year 1998 the petitioner sent its reply to the Government of India and intimated that the petitioner company is not going to raise any fund in future from the public under the collective investment scheme and is going to wind up the company and going to return the money to the investors.

(3.) Ld. Counsel for the petitioner submitted that, thereafter, the respondent filed a complaint case in the Court of ACMM, Delhi without having territorial jurisdiction which was subsequently re-numbered as CC No.19/5 on 26.11.2009.