Public Interest Litigation against Mutual Fund advertisements

Updates

1. Hearing31 Jan 2025

   Bombay HC two-judge bench recuse themselves from PIL against SEBI and AMFI

   A division bench comprising the Chief Justice and Justice Dangre has recused themselves from presiding over the Public Interest Litigation challenging mutual fund advertisement campaigns conducted by SEBI and AMFI.

   Explanation in simple terms

   What:

   Two judges withdrew from hearing a case challenging how mutual funds promote their products.

   Who:

   The Chief Justice and Justice Dangre are the judges. SEBI is the market regulator. AMFI is the trade association for mutual funds.

   When:

   Reported on 31 Jan 2025.

   Where:

   Bombay High Court, Maharashtra.

   What it means:

   The current judges will no longer decide the case, so a different bench will be assigned instead.

   The Hindu
2. News18 Dec 2024

   Bombay High Court Issues Notice To SEBI In Plea Against Mutual Fund Ads By Association Of Mutual Funds

   A Public Interest Litigation (PIL) had been filed in the Bombay High Court seeking directions to the Securities and Exchange Board of India (SEBI) to...

   Explanation in simple terms

   What:

   The Bombay High Court asked the market regulator to respond to a petition about mutual fund advertisements.

   Who:

   The Bombay High Court is the court hearing the matter. SEBI is the market regulator asked to respond. The Association of Mutual Funds is the group whose advertisements are being challenged in a Public Interest Litigation.

   When:

   Reported on 18 Dec 2024.

   Where:

   Bombay High Court, Maharashtra.

   Why:

   A Public Interest Litigation was filed seeking directions to regulate mutual fund advertisements.

   What it means:

   SEBI must now formally answer the claims made in the petition to the court.

   LiveLaw