Interim stay on show cause notices granted pending petition, with reply time allowed and liberty to seek variation.

Interim relief was granted staying the operation and implementation of the impugned show cause notices pending final disposal of the petition, as the issues were stated to be identical to those in an earlier admitted petition where similar protection had been allowed. The Court noted the earlier order's deposit condition and the fact that the Supreme Court had stayed that deposit direction in the related proceeding. Respondents were given eight weeks to file a reply, and the petition was issued Rule with interim protection continuing until final hearing, with liberty preserved to seek variation depending on the outcome of the related SLP.

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Issues: Whether interim relief in the form of a stay on the operation and implementation of the impugned show cause notices should be granted pending final disposal of the petition.

Analysis: The petition raises issues identical to those in an earlier admitted petition for which interim relief was granted by this Court. The petitioner seeks a stay of operation of two show cause notices pending adjudication. Consideration is given to prior directions in the earlier order which included a deposit condition, and to the fact that the Supreme Court stayed the deposit direction in the related proceeding. The respondents are accorded opportunity to file a reply within a stipulated period and the petition is issued Rule with interim protection pending final hearing. Liberty is preserved to seek variation of the interim relief depending on the outcome of the related Special Leave Petition.

Conclusion: Interim relief is granted staying the operation of the impugned show cause notices pending final disposal of the petition; respondents are permitted to file a reply within eight weeks and have liberty to apply for variation.

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