TMI Blog2011 (3) TMI 1461X X X X Extracts X X X X X X X X Extracts X X X X ..... rected to furnish information regarding investors to SEBI, failing which interim order granted by High Court in their favour would be vacated - WRIT PETITION NO. 11702(M/B) OF 2010 - - - Dated:- 4-3-2011 - PRADEEP KANT AND RITU RAJ AWASTHI, JJ. Prashant Chandra for the Petitioner. R.N. Trivedi for the Respondent. ORDER 1. Sri Prashant Chandra, learned senior advocate appearing for the petitioners, submits that the amendment of the writ petition as prayed for, be allowed as it is necessary for just and proper adjudication of the case, to which Sri R.N. Trivedi, learned senior advocate appearing for the SEBI, has no objection. 2. The application for amendment (CMA No. 6811 of 2011) is accordingly allowed. Let the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her says that the Supreme Court has directed the matter to be heard expeditiously and, for that matter, the petition be heard and disposed or finally. 6. We have considered the aforesaid arguments of the learned counsel for the parties. 7. We find that the Supreme Court, in its order dated 4.1.2011, has specifically directed that SEBI would also be entitled to call for any information which in deems fit, including the names of the investors who have invested in OFCD (optionally fully convertible debentures) in the course of the inquiry. Mr Sorabjee, learned senior counsel appearing on behalf of the petitioners, had agreed to give information that SEBI would call upon them to furnish, during inquiry. Since SEBI has been allowed to co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 10. The conduct of the petitioners, by not giving the required information, regarding the investors, despite the orders of the court and their agreement cannot be appreciated. 11. Considering the pleas from both the sides, we, as last opportunity, provide two weeks' time, to the petitioners to furnish the information regarding investors to the SEBI, as more; than sufficient time has already lapsed, failing which the interim order shall be liable to be vacated. 12. An apprehension has been expressed by the learned counsel for the petitioners that in case they give information regarding investors, the SEBI would misuse it, to which Sri R.N. Trivedi assures that the SEBI is not interested in doing any such act and that the same i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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