Two writ petitions had been filed at the HC, one by Bellary Steel and Alloys and the other by an investor for arbitrarily shifting shares to the Z group or the trade to trade segment.
The HC had dismissed the writ filed by the investor and the one filed by Bellary is sub-judice. In another case, two investors who had filed a special civil suit at Nagpur against BSE, GTL, and Government of India have withdrawn the matter.
There had been a lot of hue and cry about several investors and companies moving court against Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) after they had shifted nine of the K-10 stocks - Global Trust Bank, HFCL , Aftek Infosys, Lupin, silverline, Pentamedia, SSI, Kopran and GTL - to the trade to trade settlement system from September 26. BSE had shifted these shares after seeing huge volatility in the shares of these companies and as a measure to protect investor interest. It had also shifted around 650 stocks belonging to B1 and B2 to Z group.
