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2015 (4) TMI 1326 - GUJARAT HIGH COURTSeeking Interim order of stay of further proceedings - FIR against the applicants herein for the offence punishable under Section 23(1) of the Securities Contracts (Regulation) Act, 1956 and Section 15H(A) of the Securities and Exchange Board of India Act, 1992 - HELD THAT:- The law in this regard is well-settled. Although the police has the power to investigate the offence alleged against the applicant and chargesheet has been filed, the Court will not be able to take cognizance in view of the specific bar. The investigation carried out by the police can be used for the purpose of filing a complaint in writing before the appropriate court. To be precise, whatever materials have been collected by the Investigating Officer could be used by the authority for the purpose of filing a complaint before the competent court. Applicants have been able to make out a strong prima facie case to have an interim order of stay of further proceedings of Sessions Case pending
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