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2012 (2) TMI 653 - GUJARAT HIGH COURTNo show cause notice was issued either to the appellant No.1 or to the National Multi Commodity Exchange of India Limited–respondent No.3 - Held that:- In absence of any show cause to appellant No.1 as well as the respondent No.3–NMC, the impugned Order dated 23rd July, 2011, passed by the respondent No.1 is contrary to the principle of natural justice and no action could be taken either against appellant No.1 or respondent No.3. NMC in pursuance of the impugned order passed by the respondent No.1 – Commission and the same deserves to be quashed and set aside so that a fresh order/decision may be passed by the respondent No.1-Commission on the points raised by the appellants No. 1 and 2 as well as respondent No.3, after issuing a show cause notice, inviting objections and also after considering the objections and after affording opportunity of hearing to all necessary parties.
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