High CourtsDivision Bench(2013) 10 BOM CK 0078

Sandeep Badriprasad Agrawal vs Securities and Exchange Board of India

Bombay High Court · Decided on 9 October 2013 · Citation: (2014) 123 SCL 22

HON’BLE JUDGES
Z.A. Haq, J · B.R. Gavai, J
CASE NUMBER
Public Interest Litigation No. 43 of 2013

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Judgment

2 paragraphs · 191 words
1.

The petition which is purportedly filed in the public interest seeks a direction to the respondents to take action against the jewellery shop owners, who are running a scheme popularly known as "B.C." According to the petitioners under the said scheme, the said shop owners are receiving monthly instalments for a period of 11 months and at the end of 11 months are giving golden ornaments equal to the said amount. It is the contention of the present petitioner this is illegal. Firstly, we do not find any public interest in the petition. If any shop owner is running such a scheme and the consumers are voluntarily taking part in such a scheme, it is purely a commercial transaction between a businessman and a consumer.

2.

If the petitioner so desires to bring it in the nature of public ambit the least that is expected is to point out as to under what statutory provisions or the rules framed thereunder the said scheme is prohibited. Nothing is placed on record in that regard. In that view of the matter, petition is found to be without substance and it is dismissed.