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Appellants clearly discharged the initial burden to show that the deceased was carrying a valid monthly pass and was a bonafide passenger and that the pass must have been lost in the untoward incident.
Respondents have not shown any active role of petitioner in the capacity of the promoter, in the management of the company, Shrenuj, and any role and obligation factually fastened on petitioner in the various compliance which are required to be undertaken under SEBI (LODR) Regulations, at the time of freezing of his demat accounts.
The Court opined that Regulation 10 permitted only Fellow Members to apply for Certificate of Practice because Fellow Members possessed higher qualifications than Associate Members by passing additional examinations and there is not only an intelligible differentia between Associate Members and Fellow Members but there is a rational nexus to the object sought to be achieved by the said classification.
The Act grants 10 percent reservation to the Maratha community under the Socially and Educationally Backward Class (SEBC) category. A report of MSBCC cited ‘exceptional circumstances and extraordinary situations’ for surpassing the total reservation limit of 50 percent.