9911796707
TMI Blog2005 (3) TMI 461X X X X Extracts X X X X X X X X Extracts X X X X ..... sal of W.P. No. 673 of 2004 as both these writs involve identical points. 2. By filing this writ under article 226/227 of the Constitution of India, the petitioner seeks to challenge the issuance of show-cause notice dated November 18, 2003 (Annexure P3), issued by the Investigating Officer under section 11C(1)(6), read with section 15A and section 24 of the Securities and Exchange Board of In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is that firstly, no show-cause notice can be questioned at this stage and hence, the petition is premature. Secondly, there is a compliance with the requirement of section 11C(1) and thirdly, it is not necessary to supply copy of the order as prayed for by the petitioner and lastly, the petitioner is not co-operating in the inquiry and is avoiding to participate. 4. Heard Shri G.M. Chafekar, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , it may, at any time by order in writing, direct any person (hereafter in this section referred to as the investigating authority) specified in the order to investigate the affairs of such intermediary or persons associated with the securities market and to report thereon to the Board." 7. Mere perusal of the aforequoted section would indicate that what is required for initiating investigat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... requirement of section 11C(1) in the present case is concerned, the impugned show-cause notice (Annexure P3) itself proceeds on the assertion/mention that compliance is made. In other words, it is mentioned in the show-cause notice itself that proced- ings are initiated by an order passed by the Board on May 14, 2003. This is what is recited in the impugned show-cause notice : "Whereas your co- ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
