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M/S Alpha (India ) and ors. Vs. Union of India and ors.

Court : Rajasthan Jaipur

..... aforesaid writ petition has been filed with the following prayers:-(i) the section 11(4) and section 11(b) of the securities & exchange board of india act, 1992 (for short 'the sebi act') be declared invalid and ultra vires to the constitution of india.(ii) the impugned order dated 8.3.2010 passed by the ..... versus union of india reported in (2004) 6 scc 254; (iii) alchemist ltd. & ors. versus kalyan banerjee reported in (2007) 11 scc 335 and (iv) national textile corpn. ltd. and others versus haribox swalram and others reported in (2004) 9 scc 786.10. other preliminary objection is regarding availability of efficacious alternative remedy. referring to ..... exchange where the board has reasonable grounds to believe that such company has been indulging in insider trading or fraudulent and unfair trade practices relating to securities market:provided further that the board shall, either before or after passing such orders, give an opportunity of hearing to such intermediaries or persons concerned. .....