INDIAN COUNCIL OF INVESTORS Vs. UNION OF INDIA

JUDGEMENT

(1.) This public interest litigation has been filed by the Indian Council of Investors essentially seeking the following directions to respondent no.2 Securities and Exchange Board of India (SEBI):

(2.) The petitioner is a company incorporated under section 25 of the Companies Act, 1956 and claims to be promoting, protecting and safeguarding the interest of investors of primary and secondary markets with various authorities including SEBI.

(3.) SEBI is a Board constituted and established by the Central Government under Section 3 of the Securities and Exchange Board of India Act, 1992 (SEBI Act). It has primarily been constituted to protect the interest of the investors in securities, to promote and regulate the security market.