A bench comprising Justices N K Sodhi and Samar Ray observed that the appeal was 'premature' and dismissed it as 'infructious'. Deepak Mehra, a shareholder of Bharti Airtel who holds around 100 shares aggregating to around Rs 40,000, sought to overturn an informal guidance issued by Sebi on June 22.
The bench comprising Justices N K Sodhi and Samar Ray, had on August 11, permitted Mehra's lawyer to make both Bharti and MTN parties to the case. SAT made Bharti and MTN parties to the case, based on an application made by Mehra's lawyer Janak Dwarkadas, a source close to the development said.