SEBI Act: Exclusion of Jurisdiction and Tort Claims

I have posted a short note on the Indian Corporate Law blog arguing that one of the claims made by Mr. Sandeep Parekh in his expert witness statement before US Courts in not correct as a matter of law. The issue is this – does the SEBI Act bar jurisdiction of civil courts to hear tort claims? In my view – no; in Mr. Parekh’s view, yes. Mr. Parekh’s reasoning is based in a large part on the judgment of the Bombay High Court in Kesha Appliances; I argue that the case is clearly distinguishable.