TMI Blog2021 (1) TMI 1113X X X X Extracts X X X X X X X X Extracts X X X X ..... ublic policy'. It is further held that while the of a writ petition filed in a High Court without permission to file a fresh writ petition may not bar other remedies like a suit or a petition under Article 32 of the Constitution of India since such withdrawal does not amount to res judicata, the remedy under Article 226 of the Constitution of India should be deemed to have been abandoned by the petitioner in respect of the cause of action relied on in the writ petition when he withdraws it without permission. A careful perusal of the representations annexed to the PIL and this writ petition show that the grievance of the petitioner; is one and the same so far as violation of provisions of SEB] Act and Regulations are concerned. Admit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for directions against SEBI to take up the investigation for violation of provisions under SEBI Act by respondents No. 2 to 4 in three transactions set out in the information dated January 21, 2020 and October 24, 2020 and to prosecute. 3. Shri Ganesh further submitted that the prayers made in both the PIL as also this writ petition are one and the same so far as investigation by SEBI is concerned. Petitioner has unconditionally withdrawn the PIL. Therefore, this writ petition is not maintainable on the ground of res judicata. 4. In reply, Shri Subramanian, for the petitioner submitted that the prayers are different in the PIL and this writ petition. This writ petition is filed seeking investigation in respect of three transactions w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Investment and Trading Co. Private Ltd., Regai Investment and Trading Co. Private Ltd. and Napean Trading end Investment Co. Private Ltd. In prayer clause (5) of the PIL, the petitioner has sought for a direction against first to tenth respondents therein to constitute a Multi disciplinary investigation team to investigate and prosecute Mr.A.H.Premji. 9. In its representation dated January 21 2020 (Annexure-Q), petitioner has set out four transactions -numbered as A to D and alleged violation of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and SAST, 2011. 10. Transaction No.D is with regard to acquisition by Hasham Investment and Trading Co. Pvt. Ltd. during financial year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nistry of Finance, petitioner has reiterated the contents in representation dated January 30, 2020 verbatiln and stated that the earlier representation was not sent to the Department of Economic Offence of Ministry of Finance. 15. In the instant writ petition also reference is made to the shareholding pattern of three partnership firms namely, Zash Traders, Prazim Traders and Hasham Traders in which Regal Investment, Napean Trading and Vidya Investment allegedly hold 30% share. 16. Thus, in substance, petitioner's principle grievance is with regard to the transactions which have taken place between 2010 and 2015 in respect of aforementioned firms which according to the petitioner are in violation of provisions of SEBI Act. 17. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bove, prayer clause (b) in the PIL was for a direction against respondents No. 1 to 10 therein which included, the Chairman, SEBI, the 8th respondent, to investigate and prosecute Mr.A.H.Premji and his associates. A careful perusal of the representations annexed to the PIL and this writ petition show that the grievance of the petitioner; is one and the same so far as violation of provisions of SEB] Act and Regulations are concerned. Admittedly, petitioner bas withdrawn the PIL unconditionally. Therefore, this writ petition cannot be entertained in view of law laid down in Sarguja Transport Service. 21. The authority in Sheonandan, relied upon by Shri. Subramanian is not applicable to the facts of this case, because in contra distinction, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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