A bench headed by Chief Justice K G Balakrishnan said Midas Touch Investor Association has no locus standi to represent the investors and the petition is dismissed.
The Advocate appearing for the association withdrew the petition seeking permission to approach the appropriate court.
The petition had sought direction for payment of compensation of nearly Rs 5,000 crore to 300,000 retail shareholders who lost money in fraud-hit Satyam Computer Services.
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