SEBI's special court in Delhi

The Delhi High Court has set up a designated court for dealing with Securities and Exchange Board prosecution cases even as a proposal for setting up such a court in Mumbai is pending before the Maharashtra government.

The setting up of the court would facilitate the expeditious disposal of about 300 SEBI cases which are pending in different courts in the capital.

In pursuance of the direction of the Delhi High Court on December one, 2004, the Sessions Judge, Delhi has transferred all SEBI prosecution cases to the court of Additional Sessions Judge Asha Menon, SEBI said on Friday.

The market regulator had moved a proposal for setting up a designated or special court before the Chief Justice of the Delhi High Court to facilitate expeditious disposal of the cases, it said.

SEBI said a similar proposal for setting up a designated court in Mumbai is pending before the Maharashtra government.