HARESH BHAWAN CHATWANI HUF Vs. UNION OF INDIA

JUDGEMENT

(1.) At the outset, learned advocates appearing for the respective parties have submitted that during the pendency of this petition, the final order 02. 01.2020 has been passed, hence the interim order, which is challenged has merged with the same.

(2.) Learned advocate Mr.Bhatt appearing for the respondent nos.5 and 8 has submitted that in fact the petition has become infructuous since the respondent nos.5 and 8 have in fact resigned in the year 2018 and 2010 respectively, and even if the petitioner is aggrieved by any action or inaction of the respondent authority, he has a remedy to file an appeal to the Securities Appellate Tribunal under Sec. 15T of the Securities and Exchange Board of India Act, 1992 (for short "the SEBI Act").

(3.) Learned advocate Ms.Raval appearing for the respondent no.2 has adopted the submissions advanced by the learned advocate Mr.Bhatt and has submitted that as per her instructions, in fact appropriate exercise was undertaken against the respondents no.5 to 8 and if the petitioner is aggrieved by any inaction, he can file an appeal under Sec. 15T of the SEBI Act.