Come July, the Supreme Court may be taking up a petition that challenges the SEZ Act of India. This comes on the back of a slew of petitions that were filed against various SEZ projects including the Maha Mumbai SEZ promoted by Anand Jain, a close associate of Mukesh Ambani.

Bhuma Shrivastava of Mint said one of the petitions states that ertain provisions in the SEZ Act violate several fundamental rights given to all Indians by the constitution. "If the apex court takes a stance that the SEZ Act goes against the spirit of constitution it could have far reaching implications not just for the Mumbai SEZ project but also for future projects. Several experts that we spoke to are calling it sort of a test case, something of a legal precedent which will not only put the SEZ Act under scrutiny, it will also show how far the Indian government is willing to go and defend its own policy."

Also see: Maha Mumbai SEZ in limbo as farmers oppose land acquisition

Here is a verbatim transcript of the exclusive interview with Bhuma Shrivastava on CNBC-TV18. Also see the accompanying video.

Q: Take us through the details of this petition. You’ve had a look at it – what's the background and what are the implications of this likely to be?

A: The Supreme Court is going to hear a bunch of petitions sometime in July that will pitch the SEZ Act and its provisions against the constitution of the country. Now one such PIL is filed by the Maha Mumbai Shetkari Sangharsh Samiti, which has gone ahead and actually said that certain provisions in the SEZ Act violate several fundamental rights given to all Indians by the constitution.

They have specifically mentioned in its petition articles 14, 19, 21 and 38 of the constitution that speak of citizens right to be treated equally before the law, to move freely throughout the country and have protection of life and personal liberty.

Now this body has been protesting against taking over of fertile lands from Raigad farmers for quite sometime for the Mumbai SEZ project. However, it stance on whether the SEZ Act goes against the spirit of constitution – that is something that could have far reaching implications – not just in the way Mumbai SEZ project comes up or doesn’t but also in the way future projects come up.

Several experts that we spoke to are calling it sort of a test case, something of a legal precedent which will not only put the SEZ Act under scrutiny, it will also show how far the Indian government is willing to go and defend its own policy.