SEBI notification barring mutual funds from charging entry load not ultra vires

HIGH COURT OF KERALA V.K. Prakas Versus Union of India T.R. Ramachandran Nair, J. W.P. (C) No. 21207 of 2009 (U) Date of Judgment- 13.06.2012 JUDGMENT 1. The petitioners have approached this Court seeking various reliefs, including quashing of Ext.P2 circular. The main ground of challenge of the order is that the Securities and Exchange Board of India has no power to issue the notification. 2. The respondents have filed a counter affidavit. 3. The learned Standing Counsel for the respondents submitted that the matter is covered by a decision of the Delhi High Court in W.P.(C)N...