SC dismisses Writ seeking removal of SEBI Chairman – Called Petitioner ‘stool pigeon’ of business houses

Supreme Court on 01.11.2013 dismissed Writ seeking removal of Mr. UK Sinha from the post of Chairman of SEBI dismissed and observed that The petitioner was a stool pigeon acting on the directions of the business houses like Sahara and Reliance. It further observed that writ is been filed because of action taken by SEBI against some of the business houses recently. Preliminary objections  raised by the respondents that the writ petition deserves to be dismissed on the ground that it is not a bona fide petition. According to the respondents, the petitioner has been set up by interested parties...