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    <description>A writ petition under Article 226 challenging SEBI proceedings, including the appointment of an enquiry officer, enquiry notices, the report and a show-cause notice, was held not fit for interference at that stage. The court treated the complaint of non-compliance with Regulation 13 of the FUTP Regulations as, at most, an irregularity or erroneous exercise of power, not a total absence of jurisdiction, especially since the petitioners had participated in the proceedings and had efficacious statutory remedies by appeal to the SAT under Section 15T and a further appeal under Section 15Z.</description>
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