The Delhi High Court would hear on January 30 a public interest litigation (PIL) seeking inspection of records of market regulator SEBI on permitting Bharti Infratel Ltd (BIL) to issue public offerings for its cell phone tower installations allegedly without considering the radiation norms compliance.
“We will hear it on January 30,” a bench comprising Chief Justice D. Murugesan and Justice Rajiv Sahai Endlaw said, and decided to club the PIL with a similar plea on the issue.
The Securities and Exchange Board of India grants permission to private firms to raise funds through public offerings in the capital markets in accordance with the existing guidelines.
The PIL, however, alleged that in the present case “SEBI has not strictly followed its own rules.’’ The petition, filed by Niraj Kumar, alleged that SEBI’s approval to BIL, the largest tower infrastructure provider in the country, for cell towers would lead to serious health hazard if the radiation norms were not strictly adhered to. — PTI