petitioner fell drastically owing to market uncertainty was actually "depressed" to facilitate the petitioner to execute transactions at lower rate. Consequent to the issuance of show cause notice on 09.11.2017, the proceedings continued and finally, penalty amounting to Rs.15.03 crores was imposed. In this, there was also a component of Rs.3,00,000/- for violation of Model Code of Conduct for Insider Trading. The petitioner challenged the same. The principal amount had multiplied and with the interest came to Rs.18,23,55,281/- as on 31.12.2019. The challenge laid by the petitioner travelled beyond two layers and the petitioner found himself before the Hon'ble Supreme Court of India. He had no further Court to go. He could not obtain any favourable orders. In the meanwhile, this Writ Petition was filed, ostensibly to protect the sale of securities, as stated by the first respondent in their letter dated 02.01.2020, to the third respondent. An attempt was made to deposit a sum of Rs.15 crores in cash before this Court, to some how or other prevent the sale of securities, since some of the securities, as on date, have became quite valuable in the market value. Unfortunately, owing to various circumstances, including medical ailments and other reason, over which, this Court as on date is not going into, the petitioner was not able to deposit the said sum of Rs.15 crores. It was informed to this Court that the petitioner had filed a Review Application before the Hon'ble Supreme Court. Today, Mr.P.S.Raman, learned Senior Counsel and Mr.P.H.Arvind Pandian, Senior Counsel for the petitioner stated that the Hon'ble Supreme Court had refused to grant relief to the petitioner.
