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IN THE HIGH COURT AT CALCUTTA
SABYASACHI BHATTACHARYYA
Dalmia Securities Private Limited – Appellant
Versus
Calcutta Stock Exchange Limited – Respondent
JUDGMENT :
Sabyasachi Bhattacharyya, J.
1. The writ petitioner no.1, M/s Dalmia Securities Private Limited, is a Company registered with the Securities and Exchange Board of India (SEBI), which is the second respondent, as a Stock Broker for carrying on activities of buying, selling and dealing in securities. The second petitioner is a Director of the petitioner no.1-Company. The respondent no.1 is the Calcutta Stock Exchange Limited (CSE).
2. The writ petition was filed challenging the withholding of excess security amount deposited by the petitioner no.1 with CSE and for ancillary reliefs. Initially, by an order dated February 2, 2022, the writ petition was disposed of by a learned Single Judge of this Court with an observation that the CSE should take a final call on the investigation that the claim is still pending against the petitioner without prejudice to the rights and contention of the parties, directing a final decision to be taken within a period of 45 days from the date of the order. The learned Single Judge further directed that in the event the CSE finds in its final order that the petitioners are not guilty of violation of any provisions of the Exchange or that continua
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