JAI BHAGWAN GUPTA Vs. UNION OF INDIA

JUDGEMENT

(1.) This petition has been filed by one Jai Bhagwan Gupta, inter alia, claiming that this writ petition has been filed to protect the poor, illiterate and innocent people and for protection of their rights and interests arising out of financial exploitation indulged, in by Chhabra Land and Housing Ltd. - respondent No. 3 herein. The petition has been filed as a public interest writ petition seeking enquiry to be conducted on their affairs of this company and the public issue floated by the company.

(2.) After having heard learned counsel for the petitioner and respondents and having perused the record, we have no doubt in coming to the conclusion that this petition is far from `Public Interest Litigation' filed to protect the interest of poor and illiterate investors. It is more in nature of `Private Interest Litigation' and that too presented by concealing material facts from this Court.

(3.) From the documents placed alongwith the counter-affidavit of the respondents, it seems now clear that the son of the petitioner was one of a large share holder in this company. Further, he alongwith three others had filed a suit in the Court of Civil Judge, Ludhiana challenging the floating of public issue on the ground, inter alia, that the same is opposed to the norms of Security and Exchange Board of India, which is also defendant No.4 in the said suit. In that suit too the allegations were made about fraud having been perpetuated by this very company. Conveniently the petitioner conceals the facts of pendency of proceedings in Civil Courts at Ludhiana from this Court and files this petition purporting to be on behalf of poor investors. The cumulative affect of the aforesaid facts and the circumstances creates serious doubts about the antecedents and bonafides intentions of the so-called public spirited petitioner. This petition is a gross abuse of process of law. In this view, we decline to entertain the petition and dismiss the same with costs quantified at Rs. 15,000/= payable to Delhi Legal Services Authority, Room No.1, Patiala House, New Delhi-1, within a period of two weeks.