Bhandari, J. - (1.) Since on same set of facts, similar issues have been raised, all these writ petitions are decided by this common order.
(2.) For the purpose of appreciating arguments of all the parties, we have taken D.B. Civil Writ Petition No.4333/2010 - 21st Century Entertainment Pvt. Ltd. Versus Union of India and others as leading writ petition with the consent of all the learned counsel for the parties.
(3.) The aforesaid writ petition has been filed with the following prayers:- (i) The section 11(4) and section 11(B) of the Securities & Exchange Board of India Act, 1992 (for short 'the SEBI Act') be declared invalid and ultra vires to the Constitution of India. (ii) The impugned order dated 8.3.2010 passed by the respondent No.2 being illegal and arbitrary be quashed and set aside. (iii) This Hon'ble Court may be pleased to issue a writ of certiorari or in the nature of certiorari or any other appropriate writ, order or direction calling for the records and papers pertaining to the impugned order and investigation of the respondent No.2 in the matter of Bank of Rajasthan. (iv) Any other appropriate writ, order or direction which may be considered just and proper in the facts and circumstances of the case may kindly also be issued in favour of the petitioner.;