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Judgment
K.L. Manjunath, J.—These petitions are filed challenging the show cause notice dated 15-2-2011 [Annexure-U] issued by the third respondent u/s 11B of the Securities and Exchange Board of India Act, 1992 [for short, the Act]. Upon hearing the learned counsel for the parties, it is seen that instead of sending a reply to the show cause notice, straightaway, these writ petitions have been filed. Hence, these writ petitions are required to be dismissed.
Learned counsel for the petitioners contends that though Annexure-U is sought to have been referred to as a show cause notice, a direction has been issued for compliance.
On going through, the entire Annexure-U, this court is of the opinion that earlier letters were given and in continuation to those letters, time has been given to the petitioners to comply with the directions. It is to be noted that u/s 11B of the Act, power to issue such a notice and direction is provided to safeguard the interest of the investors and in such circumstances, this court cannot interfere with the same. It is always open for the petitioners to reply to Annexure-U and if such reply is submitted by the petitioners within two weeks from today, the same can be considered in accordance with law. With the above observation, these petitions are dismissed.