Case Law Details
Axis Mutual Fund Vs The State of Maharashtra (Bombay High Court)
1. By this petition under Article 226 of the Constitution of India, the petitioner seeks a writ of certiorari or any other appropriate writ, order or direction in the nature thereof calling for the records pertaining to the impugned orders dated 26thSeptember, 2017, 7th November, 2017 and 11th April, 2018 and after scrutinising the legality and validity thereof, to quash and set aside the same. The petitioner is also challenging another order dated 29th March, 2017 as well.
2. The facts and circumstances in which these orders are challenged, are briefly set out hereinbelow:-
3. By the Deed of Trust dated 27.06.2009 made by and between Axis Bank Limited, a settlor, and Axis Mutual Fund Trustee Company Limited, trustee, an irrevocable trust/trusts called Axis Mutual Fund was created.
4. Axis Mutual Fund Trustee Company Limited (“Trustee Company”), incorporated under the provisions of the Companies Act, 1956, was approved by Securities and Exchange Board of India (“SEBI”) to act as a Trustee of the various scheme(s) of the Axis Mutual Fund.
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