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2021 (1) TMI 1113 - HC - Indian LawsMaintainability of petition - assets removed from the companies - seeking constitution of Multi disciplinary investigation team to investigate the matter - violation of provisions of SEBI Act - HELD THAT:- In Sarguja Transport Services, [1986 (11) TMI 377 - SUPREME COURT] it is held by the Apex Court that the principle underlying in Rule 1 of Order XXIII. of Code of Civil Procedure should be extended in the interest of administration of justice to the cazes of withdrawal of writ petition also, not on the ground of res judicata but on the ground of 'public policy'. It is further held that while the of a writ petition filed in a High Court without permission to file a fresh writ petition may not bar other remedies like a suit or a petition under Article 32 of the Constitution of India since such withdrawal does not amount to res judicata, the remedy under Article 226 of the Constitution of India should be deemed to have been abandoned by the petitioner in respect of the cause of action relied on in the writ petition when he withdraws it without permission. A careful perusal of the representations annexed to the PIL and this writ petition show that the grievance of the petitioner; is one and the same so far as violation of provisions of SEB] Act and Regulations are concerned. Admittedly, petitioner bas withdrawn the PIL unconditionally. Therefore, this writ petition cannot be entertained in view of law laid down in Sarguja Transport Service. Petition dismissed.
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