Gujarat High Court
Securities And Exchange Board Of India vs Franklin Templeton Trustee Services ... on 23 June, 2020
Author: J.B.Pardiwala
Bench: Vikram Nath, J.B.Pardiwala
C/LPA/311/2020 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/LETTERS PATENT APPEAL NO. 311 of 2020
In R/SPECIAL CIVIL APPLICATION NO. 7201 of 2020
With
CIVIL APPLICATION (FOR STAY) NO. 1 of 2020
In R/LETTERS PATENT APPEAL NO. 311 of 2020
With
CIVIL APPLICATION (FOR JOINING PARTY) NO. 2 of 2020
In R/LETTERS PATENT APPEAL NO. 311 of 2020
===============================================
SECURITIES AND EXCHANGE BOARD OF INDIA
Versus
FRANKLIN TEMPLETON TRUSTEE SERVICES PVT LTD
===============================================
Appearance:
MS DHARMISHTA RAVAL(707) for the Appellant(s) No. 1
for the Respondent(s) No. 6,7
GUPTA LAW ASSOCIATES(9818) for the Respondent(s) No. 3,4,5
NANAVATI ASSOCIATES(1375) for the Respondent(s) No. 1,2
PARITOSH R GUPTA(7583) for the Respondent(s) No. 3,4,5
===============================================
CORAM: HONOURABLE THE CHIEF JUSTICE MR. VIKRAM NATH
and
HONOURABLE MR. JUSTICE J.B.PARDIWALA
Date : 23/06/2020
ORAL ORDER
(PER : HONOURABLE MR. JUSTICE J.B.PARDIWALA) [1] On 19.06.2020, this Court passed the following order:
"It has been pointed out at the Bar that against the order of the learned Single Judge impugned in this Letters Patent Appeal, one of the parties has approached the Supreme Court and the matter is listed today. It is further stated that other matters relating to the same issue having been filed in different High Courts, there is a petition for transfer of all matters to the Delhi High Court which is also listed today before the Supreme Court. As agreed by the learned counsel for the parties, let this matter be posted on Tuesday i.e. 23.06.2020."Page 1 of 3 Downloaded on : Fri Jun 26 20:50:40 IST 2020 C/LPA/311/2020 ORDER
[2] Today, when the matter was taken up for hearing, the learned counsel appearing for the parties placed on record the order passed by the Supreme Court in the Special Leave Petition (Civil) No.7553 of 2020. The order reads thus:
"After hearing the learned senior counsel appearing for the parties at length, we are not inclined to entertain the interim order dated 08.06.2020 passed by the High Court of Gujarat at Ahmedabad in Civil Application No. 1 of 2020 in Special Civil Application No. 7201 of 2020.
It is pointed out that several writ petitions are pending in the High Court of Gujarat, The High Court of Delhi as well as the High Court of Judicature at Madras. It is agreed that let the matters be transferred to the High Court of Karnataka, to be heard by a Division Bench. Thus, we request the Hon'ble Chief Justice of the High Court of Karnataka to take up matters himself in a Division Bench. Let the pending matters be transmitted to the High Court of Karnataka, including the appeal filed by SEBI before the High Court of Gujarat against the interim order.
Let the matters be transmitted to the High Court of Karnataka within 15 days by the concerned High Courts. Let the High Court of Karnataka hear and finally decide the matter, including the SEBI appeal, within three months.
As per the list provided by the learned counsel, the following matters are to be transmitted to the High Court of Karnataka :-
. M/s Chennai Financial Markets and Accountability v. SEBI and Others, W.P. 7744/2020 filed before the Madras High Court.
. Areez Phirozsha Khambatta and Ors. v. SEBI and Ors., Civil Application No. 7201 of 2020 filed before the Gujarat High Court.
. Amruta Garg (Formerly Amruta Narendra Nikam) v. UOI and Ors., W.P. (Civil) 3366/2020 filed before the Delhi High Court.
. M/s Chennai Financial Markets and Accountability v. Additional Director General of Police, CRL OP No. 8660/2020 filed before the Madras High Court.Page 2 of 3 Downloaded on : Fri Jun 26 20:50:40 IST 2020 C/LPA/311/2020 ORDER
. SEBI v.Franklin Templeton Trustee Services Pvt. Ltd. bearing LPA No. 311/2020 in SCA No. 7201/2020 filed before the Gujarat High Court.
. LPA No. 311/2020 - Securities and Exchange and Board of India Versus Franklin Templeton Trustee Services Pvt. Ltd. & Others.
In view of the above, the Special Leave Petition and the Transfer Petitions are disposed of."
[3] It appears from the above that the Supreme Court declined to interfere with the interim order dated 08.06.2020 passed by the learned Single Judge of this Court which is impugned in the present appeal. The Supreme Court further observed that all pending matters including the present appeal filed by the Securities and Exchange Board of India against the interim order passed by the learned Single Judge be transmitted to the High Court of Karnataka. The Supreme Court has further observed that the matters be transmitted to the High Court of Karnataka within a period of 15 days by the concerned High Courts.
[4] In view of the aforesaid, we direct the Registry to transfer / forward the record and proceedings of the Special Civil Application No.7201 of 2020 including the papers of the present appeal and all connected Civil Applications to the High Court of Karnataka at the earliest.
(VIKRAM NATH, C.J.) (J. B. PARDIWALA, J.) DHARMENDRA KUMAR Page 3 of 3 Downloaded on : Fri Jun 26 20:50:40 IST 2020