2015 (5) TMI 439

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..... ties which he owns until further orders. 2. The intervention through writ is sought on the ground that he has since retired from directorship of the company and the petitioner is wholly dependent on the income that is generated through his holdings in shares and the order passed by SEBI will grossly prejudice him. According to him, he has a handicapped daughter whose daughter is also similarly handicapped and he is himself aged nearly 75 years and he will be inconvenienced to go to Bombay to contest the order. The learned Senior Counsel would state that although the order is passed by SEBI at Bombay, the effect of the order will operate against the petitioner who resides within the jurisdiction of this Court and therefore, this Court has j .....

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..... ve of where the cause of action for the case arose. If the cause of action arose in two or more places, the forum conveniens will make possible to approach the Court at the most convenient forum. The 'conveniens' is not a physical comfort for a person not to be troubled by logistic burdens. The place where the person residing is not a cause of action. The place where the respondent resides or where the order is issued alone is the place of jurisdiction. 5. In my view, the attempt by the petitioner approaching this Court is not appropriate at all for the following reasons. The order passed by SEBI is not a final one and it is interim in nature to consider the fact that the company which is a non banking financial company had made so .....

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..... convenience of the parties at all times and that cannot be again spoken from the context of personal tragedies obtaining to the petitioner. He must challenge the order which is against him in a Court which is appropriate and in a forum which is competent. In this case, since it is not a final order and the order was not really adjudicated on rights of parties, I would think that there is no scope for intervention through writ petition. Therefore, I do not propose to make any intervention. The petitioner is at liberty to approach SEBI itself for modification of the order. 6. There is yet another reason why it shall be wholly inexigent to make intervention at this stage. If the impugned order were to be taken as a final adjudication qua pet .....

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