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2014 (2) TMI 1316 - HC - Indian LawsStay granted in exercise of writ jurisdiction under Article 226 of the Constitution of India - fraud in NSEL - Commission has issued directions for forcing disinvestment of stakes of the Petitioners in MCX - Held that:- As elaborate enquiry has been made by the Commission. Findings of fact of serious nature have been recorded against the Petitioners. The fraud perpetrated is to the tune of ₹ 5,500 Crores. Criminal investigations are in progress. Considering the gravity of the allegations which have been found to be established against the Petitioners, this is not a fit case where prayer for stay can be granted in exercise of writ jurisdiction under Article 226 of the Constitution of India. Accordingly, prayer for interim relief is rejected. Hearing of the Petition is expedited.
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