Supreme Court of India · 1960-08-17
MADHUBHAI AMATHALAL GANDHI vs THE UNION OF INDIA.
- Citation / case number
- SC 1957/60004
- Court
- Supreme Court of India
- Petitioner
- MADHUBHAI AMATHALAL GANDHI
- Respondent
- THE UNION OF INDIA.
- Author
- SINHA, BHUVNESHWAR P.(),KAPURL.,GAJENDRAGADKAR, P.B.,SUBBARAO, K.,WANCHOO, K.N.
- Bench
- SINHA, BHUVNESHWAR P.(CJ),KAPUR, J.L.,GAJENDRAGADKAR, P.B.,SUBBARAO, K.,WANCHOO, K.N.
Judgment text excerpt
The Supreme Court examined the validity of the notifications issued under the Securities Contracts (Regulation) Act, 1956, particularly focusing on Section 4 and the Securities Contracts (Regulation) Rules, 1957. The Court held that the conditions imposed for membership of the Stock Exchange, Bombay, did not infringe upon the fundamental rights under Article 19(1)(g) or Article 14 of the Constitution, as they were reasonable restrictions aimed at regulating the stock exchange business. The petitioner's challenge to the notifications was dismissed, affirming the legality of the conditions set forth for membership.