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SC issues contempt notice to SEBI on RIL plea on non-compliance of court order

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 The Supreme Court has issued a contempt notice to the Securities and Exchange Board of India (SEBI) on Reliance Industries (RIL) plea alleging non-compliance of the court’s August 5 order, which directed the market regulator to provide access to certain documents to the company.

A bench comprising Justices M.R. Shah and M.M. Sundresh said: “Issue notice to the respondent, making it returnable on December 2, 2022. Abhishek Singh, counsel accepts service of notice on behalf of the respondent.”

Senior advocate Harish N. Salve, appearing on behalf of RIL, vehemently submitted that despite the August 5 order passed by the apex court by which the respondent (SEBI) was directed to furnish a copy of the documents, the same has not been furnished till date.

Senior advocate and former Attorney General of India K.K. Venugopal, representing SEBI, submitted that the review petition preferred by the respondent is pending before this court and, therefore, no further order be passed in the present proceedings.

The bench, in its order, noted: “We have gone through the subsequent order passed by this court dated October 12, 2022 in review petition. The pendency of an appeal and/or writ petition along with stay cannot be equated with pendency of the review petition.

I”There is a final decision by this court in an appeal. Merely because the stay application is pending in review petition cannot be a ground to grant stay by the respondent on its own and not to comply with the directions issued by this court.”

The bench said it is required to be noted that the State of J&K Vs. Mohd. Yaqoob Khan and others was a case where against the ex-parte order passed by the single judge, pending writ petition, the contempt proceedings were initiated.

“Therefore, this court observed that when the stay application is yet to be heard and decided and disposed of, the contempt proceedings cannot be initiated. Under the circumstances, the said decision(s) cannot be of any assistance to the respondent,” said the apex court.

The bench has scheduled the matter for further hearing on December 2.

The company had sought three documents from SEBI that it had claimed would exonerate it and its promoters from criminal prosecution initiated in a case related to the alleged irregularities in acquisition of its own shares between 1994 and 2000.

On August 5, a bench led by then Chief Justice N.V. Ramana, had said: “The approach of SEBI, in failing to disclose the documents, also raises concerns of transparency and fair trial. Opaqueness only propagates prejudice and partiality. Opaqueness is antithetical to transparency.”

The top court had said the market regulator should show fairness and furnish documents sought by RIL, and SEBI has a duty to act fairly, while conducting proceedings or initiating any action against the parties.

RIL filed a contempt petition as SEBI has not shared three documents — the two legal opinions by former Supreme Court judge B.N. Srikrishna and former ICAI President Y.H. Malegam’s report which examined the irregularities.

The company claimed that SEBI cannot continue to resist the production of these documents and it had also sent a notice to the market regulator saying if documents were not received by August 18, then it will establish that SEBI does not want to comply with the apex court’s judgment.

In 2002, Chartered Accountant S. Gurumurthy filed a complaint with SEBI alleging irregularities by RIL, its associate companies and their directors/promoters, including Mukesh Ambani and his wife, Nita; Anil Ambani and his wife, Tina; and 98 others.

The complaint cited the issue of two preferential placement of non-convertible debentures in 1994.

SEBI had alleged that RIL along with Reliance Petroleum had circuitously funded the acquisition of its own shares in violation of the Sections 77 and 77A of the Companies Act, 1956.

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Mumbai BMC elections: Abu Asim Azmi appeals to disgruntled Samajwadi Party workers

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In the Mumbai Municipal Corporation elections, Samajwadi Party leader and MLA Abu Asim Azmi has appealed to the claimants deprived of party tickets that if for some reason any candidate has not got a party ticket, the party leadership will provide them with an opportunity in the future, but in this election, they should show unity with the Samajwadi Party candidates for the problems and rights of the people. He said that in the BMC elections, the Samajwadi Party had decided to field candidates on 150 seats so that the socialist ideology would be promoted. The candidates on the party ticket were provided with tickets and the candidates also filed their candidatures, but unfortunately, many claimants did not get tickets because there were many difficulties in the distribution of tickets. Thank you to everyone for contesting elections on the party ticket in Mumbai and promoting the party’s ideology. Candidates were announced in several wards in a phased manner and 150 candidates have been fielded for the election phase. Abu Asim Azmi said that I appeal to all the workers and contenders to work for the party candidate instead of getting angry over the deprivation of the ticket because it is our responsibility to strengthen the party and promote the ideology of the Samajwadi Party. The candidates who have not been given a chance this time should not be unhappy. The election is not just for one candidate but for the ideology of the party. Whoever is given the ticket, he is the face and candidate of the Samajwadi Party. Therefore, the party should support the candidate and strengthen the party. It is a victory of unity. You will all work for the Samajwadi Party to raise your voice on the problems of the citizens and I am sure that the Samajwadi Party will make history this time.

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Crime

Mira-Bhayandar Crime: Kashigaon Police Arrest 3 Accused For House Burglary, Recover Cash And Gold Worth ₹2.36 Lakh

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Mira-Bhayandar, Jan 02: The Kashigaon Police Crime Detection Team has arrested three accused involved in a house burglary case and recovered stolen gold ornaments, cash and burglary tools.

According to the police, the incident took place on the morning of December 30, 2025, when the complainant, Shraddha Anil Shelar, a homemaker and resident of Hatkesh, Kashigaon, had locked her house and gone to Ramdev Park, Mira Road, along with her husband Anil Shelar to file nomination papers for the Ward No. 13 municipal councillor election.

When the couple returned home around 1.30 pm, they found the main door broken and household articles scattered. On checking the iron cupboard, it was discovered that gold ornaments weighing about 43 grams, including a gold chain, bracelet, earrings, nose ring and pendant worth approximately ₹2.16 lakh, along with ₹20,000 in cash, had been stolen.

Based on the complaint, Kashigaon Police registered a case under relevant sections of the Bharatiya Nyaya Sanhita for theft and house-breaking.

During the course of investigation, the police tracked down the accused and arrested them from Bhayandar Railway Station while they were attempting to flee to another state.

The arrested accused have been identified as Irfan Yusuf Khan (25), Sagar Dilip Soni (23) and Ajay Vijay Torne (19), all residents of the Mira Road area. One of the accused is originally from Nepal, police said.

Police have recovered the stolen gold ornaments, cash and the tools used for committing the burglary from the accused. Further investigation revealed that accused Irfan and Sagar have prior criminal records, with theft and house-breaking cases registered against them at Nayanagar, Navghar and Mira Road police stations, and had previously served jail sentences.

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National News

‘Unacceptable’, Sena UBT MP Priyanka Chaturvedi Flags Misuse Of AI Apps To Sexualise Women, Seeks Urgent Intervention From IT Minister Ashwini Vaishnaw

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Mumbai: Shiv Sena UBT MP Priyanka Chaturvedi, on Friday, January 2, wrote to Union Minister for Electronics and Information Technology Ashwini Vaishnaw, highlighting the increasing incidents of AI apps being prompted to sexualise and undress women by unauthorised use of their images on social media, calling it gross misuse of AI.

Moreover, the Rajya Sabha MP sought urgent intervention of the IT Minister and said that there have to be guardrails put in place by features such as Grok that do not violate women’s dignity, while big tech firms need to take the onus.

In a letter dated January 2, she wrote, “There have to be guardrails put in place by features such as Grok that do not violate women’s dignity, big tech firms need to take the onus. And I wish men indulging in such behaviour were educated better at their homes & schools to not become such sick perverts in their adulthood.”

She further added, “What is worse is that Grok is enabling this behaviour by adhering to such requests.”

She stated that similar incidents are “going absolutely unchecked” on other platforms. “I write to you as an active member of the Standing Committee on IT & Communication, to urge you as a minister to take this up strongly with X to ensure safeguards are built in their AI apps to make the platform a safe space for women,” she wrote in the letter.

“Our country cannot be a bystander to women’s dignity being violated publicly and digitally with zero consequences under the garb of creativity and innovation that condone such prompts. While we welcome AI and its role in making lives easier for the world, we will not allow a proliferation of such demeaning acts towards women,” the Rajya Sabha MP said.

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