Pranab Kumar Chattopadhyay, J. - - (1.) The petitioners herein have challenged the order passed by the respondent No. 2 on various grounds mentioned in this writ petition.
(2.) Mr. Sen, learned counsel representing the respondent No. 1, raised preliminary objection regarding maintainability of the writ petition on the ground that the petitioners herein did not exhaust the remedy available under the statute, namely, in terms of section 15T of the Securities and Exchange Board of India Act, 1992.
(3.) I find merits in the aforesaid submission made by the learned counsel of the respondent No. 1. In my view, the petitioners herein should exhaust the remedy available under the statute before approaching the court.;