JUDGMENTS :

K.KUMARESH BABU., J

PRAYER:-Writ Appeals have been filed under Clause 15 of Letter Patent against the order dated 27.03.2006 made in W.P.No.24857 of 2001.

This Intra Court Appeal has been preferred challenging the order of the learned Single Judge wherein the learned Single Judge had upheld the order passed by the first respondent to disburse the amount withhold by the Appellant as security deposit on behalf of the second respondent for the default committed by the second respondent under the EPF Act.

2. Heard Mr.J.Shivanandharaj learned Senior Counsel appearing on behalf of Ms.Ridhina Sharma learned Counsel for Appellant and Mr.Vishnu Ramu, learned Counsel appearing for the first respondent.

3. Assailing the order, the learned Senior counsel would submit that the appellant is recognised stock exchange established under Securities Contract (Regulation) Act and it framed Rules, Regulations and bye-laws which has to be approved by the SEBI and House of Parliament. The SEBI Act and the Regulations/bye-laws framed under Securities Contract (Regulation) Act, (hereinafter referred to as 'SCR Act') give a priority to the Appellant over any other debts whatsoever of its trading memb