2005 (4) TMI 294

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....peal cannot be sustained and the same be set aside and the case be remitted back to the High Court for a fresh decision in accordance with law. 2. On the asking of the counsel for the parties, we are mentioning the facts which have come into existence subsequent to the passing of the impugned judgment by the Division Bench of the High Court. Securities and Exchange Board of India (SEBI) passed tw....

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..... 3. In view of the concession made by the learned Solicitor General of India, we set aside the impugned judgment and remit the case back to the Division Bench of the Gujarat High Court for a fresh decision in accordance with law. LPA No. 236 of 1997 [SEBI v. Alka Synthetics Ltd. [1999] 19 SCL 460 (Guj.)] is restored back on the file of the High Court. All contentions are left open. 4. Since an ....