Rishab Agarwal vs Securities And Exchange Board Of India ... on 28 January, 2026

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Bombay High Court

Rishab Agarwal vs Securities And Exchange Board Of India ... on 28 January, 2026

Bench: R.I. Chagla

                                                              901-IA(L) 33703.2025 in WP(L) 32194.2025.doc


                    Kavita S.J.

                                IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                    ORDINARY ORIGINAL CIVIL JURISDICTION

                                   INTERIM APPLICATION (L) NO.33703 OF 2025
                                                      IN
                                      WRIT PETITION (L) NO.32194 OF 2025

                    Rishab Agarwal                                      ...Applicant/ Petitioner
                            Versus
                    Securities and Exchange Board of India              ...Respondents
                    (SEBI) & Ors.,
                                                  ----------
                    Mr. Zal Andhyarujina, Senior Counsel a/w Mr. Sunil Gagan i/b RMG
                    Law Associates for Petitioner / Applicant.
                    Mr. Ravi Shekhar Pandey i/b Agama Law Associates for Respondent
                    No.1 - SEBI.
                    Mr. Darius Khambata, Senior Counsel a/w Ms. Shruti Sabharwal, Mr.
                    Anant Narayan Misra & Mr. Ayan Tanton i/b Sam & Co. for
                    Respondent No.2.
                    Mr. Ravitej Chilumuri a/w Ms. Aishwarya Singh, Ms. Sanya Gandhi
                    i/b Khaitan & Co. for Respondent Nos. 3 to 7.
                                                        ----------

                                              CORAM : R.I. CHAGLA AND
                                                      ADVAIT M. SETHNA, JJ.

                                              DATED   : 28th JANUARY, 2026.

                    ORDER :

1. The Writ Petition has been placed today under the KAVITA SUSHIL caption for withdrawal.

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2. Mr. Zal Andhyarujina, learned Senior Counsel appearing for the Petitioner has sought leave to withdraw the Writ Petition with liberty to file a fresh Petition.

3. Mr. Khambata, learned Senior Counsel appearing for Respondent No.2 and Mr. Ravitej Chilumuri, learned Counsel appearing for Respondent Nos.3 to 7 have vehemently opposed the granting of any liberty.

4. Mr. Khambata has sought for dismissal of the present Writ Petition on the ground that it has become infructuous. From the perusal of the prayers, the Petition filed on 6 th October, 2025 had challenged the Red Herring Prospectus ("RHP") of Respondent No.2 and sought reasoned order on the Petitioner's complaints.

5. Subsequent to the filing of the Petition, the RHP has become a prospectus which has been subscribed to, shares allotted as well as having been publicly listed on 10th October, 2025.

6. Mr. Andhyarujina has instead sought time to file an Interim Application for amendment of the Writ Petition.

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901-IA(L) 33703.2025 in WP(L) 32194.2025.doc

7. In the event, the Interim Application is filed within a period of one week from today, it shall be listed on 16th February, 2026.

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