Delhi HC refuses to entertain 19-year olds blackmailing type plea concerning approval to IPOs
New Delhi Nov 26 PTI The Delhi High Court Friday refused to entertain a 19-year olds plea against the hasty manner in which IPOs are passed observing that it is a blackmailing type of petition and asked if it was filed to harass some companies and at whose behest The issues raised in the petition involve fine niceties which are governed by special laws and unlikely to concern such a young petitioner said a headed by Chief Justice D N Patel How are IPOs initial public offerings decided How many types of shareholdings are there When you counsel for petitioner dont know how will a 19-year old boy know asked the bench also comprising Justice Jyoti Singh The counsel for the petitioner claimed that the boy was a retail investor who was seeking a framework to ensure proper functioning of the securities market At whose behest is the petition filed You should have gone to the government You should bring the concerned party before court A boy of 19 years in filing a petition If we call him for cross-examination since the matter is filed on oath he may not be knowing abc the court remarked The counsel for petitioner unconditionally withdrew the plea after the court asked him to either approach the government by way of a representation or it would dismiss the petition I would have checked entire bank details to know if money was received from someone to file the plea Good that you withdrew the court stated PTI ADS SA
New Delhi Nov 26 PTI The Delhi High Court Friday refused to entertain a 19-year olds plea against the hasty manner in which IPOs are passed observing that it is a blackmailing type of petition and asked if it was filed to harass some companies and at whose behest The issues raised in the petition involve fine niceties which are governed by special laws and unlikely to concern such a young petitioner said a headed by Chief Justice D N Patel How are IPOs initial public offerings decided How many types of shareholdings are there When you counsel for petitioner dont know how will a 19-year old boy know asked the bench also comprising Justice Jyoti Singh The counsel for the petitioner claimed that the boy was a retail investor who was seeking a framework to ensure proper functioning of the securities market At whose behest is the petition filed You should have gone to the government You should bring the concerned party before court A boy of 19 years in filing a petition If we call him for cross-examination since the matter is filed on oath he may not be knowing abc the court remarked The counsel for petitioner unconditionally withdrew the plea after the court asked him to either approach the government by way of a representation or it would dismiss the petition I would have checked entire bank details to know if money was received from someone to file the plea Good that you withdrew the court stated PTI ADS SA
