The Court dismissed a writ petition challenging a show cause notice. The petitioner was permitted to show cause before the competent officer, with a four-week stay on acting on the order. The stay application was rejected.
Petition disposed; show cause allowed; act on adverse order stayed for four weeks; stay application rejected.
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1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION NO. 2031 OF 2004
Shankar Sharma and Anr. ... Petitioner
Vs.
Securities and Exchange
Board of India ... Respondent
Mr. S.K. Sen with Mr. Kedar Dighe i/by V.S.
Khanavkar for Petitioner.
Mr.J.J. Bhat, Sr. Counsel with Mr. Kumar Desai
i/by Maneksha & Sethna for Respondents.
CORAM: F.I.REBELLO&
MRS.V.K.TAHILRAMANI,JJ.
DATE : 06TH JULY, 2006
P.C.:
. The Petitioner has approached this Court in
respect of the show cause notice dated 9th March,
2004 alleging amongst other contentions, that the
show cause notice is based on subsequent amendments.
We see no reason, as to why the Petitioner should
not show cause to the said notice. It will be open
to the Petitioner to urge all points as raised in
this petition and all other points which he may be
entitled to take and raise them before the competent
officer. If the order of the competent officer is
adverse to the Petitioner, that will not be acted
upon for a period of four weeks from the date of
communication of the order to the Petitioner.
. With the above observations, Petition stands
2
disposed of.
. The learned counsel for the Petitioner seeks stay
of the order. In our opinion, no case is made out.
Application for stay rejected.
(MRS.V.K.TAHILRAMANI,J.)(F.I.REBELLO,J.)
2 issues framed by the court
Whether the petitioner should be allowed to show cause regarding the notice based on subsequent amendments.
Whether the competent officer's adverse order will be acted upon within four weeks of communication.
1 provisions across 1 enactments
Shankar Sharma and Anr.
Securities and Exchange Board of India
F.I. Rebello
Mrs. V.K. Tahilramani
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court