2012 (2) TMI 747

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..... : Farook M. Razack, P.K. Dutt, S.K. Dutt, Rupak Ghosh and Ms. Priyanka Bhutoria ORDER 1. The petitioners in this WP under art.226 dated January 31, 2012 are challenging the validity of the ss.11, 11B and 19 of the Securities and Exchange Board of India Act, 1992. They are also questioning an order of the Securities and Exchange Board of India dated December 28, 2011 (at p.66). 2. Mr Pal appear .....

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..... jurisdiction and vitiated by non-application of mind. He has made submissions in justification of the order and has said that the petitioners' remedy, if any, was before the Tribunal. 4. After hearing Mr Pal and Mr Razack, I am of the view that it will be appropriate to admit the WP. I do not find any reason to stay the operation of the order of the Board dated December 28, 2011. 5. An orde .....

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