- (1.) Heard the learned counsel for the parties.
(2.) This writ petition has been filed in the nature of Public Interest Litigation praying for the following reliefs: "I. issue a writ order or direction in the nature of mandamus directing SEBI (Respondent No. 5) to prohibit Respondent No. 6 from soliciting public money for the issue of its securities in furtherance of advertisements published by it as contained in Annexure no. 4 to this writ petition. II. issue a writ order or direction in the nature of mandamus, restraining the respondent no. 6 to proceed with its IPO in furtherance of its advertisement for the IPO as also published in Dainik Bhaskar, a copy of which is Annexure No. 4 to this writ petition. III. issue a writ order or direction in the nature of mandamus, directing the respondents no. 1 to 5 to enquire into the ownership of the title 'Dainik Bhaskar' and take appropriate action against respondent no. 6 for publishing incorrect and misleading information. IV. issue a writ order or direction in the nature of mandamus, directing the respondents no. 1 to 5 to enquire into the entire scheme of respondent no. 6 with regard to its IPO before permitting its issuance. V. Such other/further relief, as the Hon'ble Court may deem just and appropriate in the facts and circumstances of the case, may also be granted in favour of the petitioner. VI. Costs of the petition."
(3.) A preliminary objection has been raised by Sri Krishna Mani, learned Senior Advocate, appearing for respondent no. 7 about the maintainability of the writ petition, both on the ground of territorial jurisdiction of this Court and also on the ground that the petitioners cannot be said to be the aggrieved persons, nor the petition can be taken into as Public Interest Litigation, as the respondent no. 7 has issued an advertisement as contained in Annexure No. 4 floating the public issue after clearance from the Securities & Exchange Board of India (SEBI) and other concerned Regulatory Bodies and, therefore, no cause of action has accrued to the petitioners to challenge the aforesaid action.;