SEBI EMPLOYEES ASSOCIATION (REGISTERED) REPRESENTED BY ITS GENERAL SECRETARY,MUMBAI AND OTHERS Vs. SECURITIES AND EXCHANGE BOARD OF INDIA

JUDGEMENT

(1.) Rule. Respondent waives service. By consent, rule made returnable forthwith.

(2.) By this Writ Petition under Art. 226 of the Constitution of India, the Petitioners seek a writ of mandamus or any other appropriate writ, order or direction in the nature thereof directing the Securities and Exchange Board of India ( SEBI for short), not to fill up 50% of the posts of Executive Director, henceforth by direct recruitment or deputation and/or on contract basis unless there is no eligible and suitable officer available internally in SEBI. The command sought is that the mode of appointment indicated above shall not be resorted to unless there is exigency of work.

(3.) By prayer clause (b) and the amended prayers, what is sought is that existing and future vacancies be directed to be filled in by promoting the eligible and suitable departmental Grade-F officers of SEBI. Then, a blanket prayer to call for all the records in relation to the appointment to the posts of Executive Directors and Chief General Managers in the SEBI and finally to quash and set aside an advertisement issued by the SEBI in the newspaper of 5th Nov., 2016 inviting applications for making appointments to the two posts of Executive Directors on deputation/contract basis.