1 rpa IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION WRIT WRIT WRIT PETITION NO. 1386 OF 2007 PETITION NO. 1386 OF 2007 PETITION NO. 1386 OF 2007 Mr.Harinarayan G.Bajaj .. Petitioner Vs. Securities & Exchange Board of India & Ors. .. Respondents Mr.Zal Andhyarujina i.b.V.M.Sharma for the Petitioner. Mr.P.N.Modi a/w. Mr.Sagar Divwekar i/b. Wadia Gandhi & Co. for Respondent No.2. . Mrs.S.R.Kumbhat for Respondent No.4. . Mrs.Poornima Advani i/b.Law Point for Respondent No.1. CORAM CORAM CORAM : SWATANTER KUMAR, C.J.& : SWATANTER KUMAR, C.J.& : SWATANTER KUMAR, C.J.& J.P.DEVADHAR,J. J.P.DEVADHAR,J. J.P.DEVADHAR,J. DATE DATE DATE : 12TH MARCH, 2007 : 12TH MARCH, 2007 : 12TH MARCH, 2007 P.C. P.C. P.C. . During the course of hearing, the learned counsel appearing for the Respondent No.2 raised a preliminary objection with regard to the maintainability of the present writ petition. In view of alternate statutory remedy being available to the petitioner under section 23(L) of Securities Contracts (Regulation) Act, 1956 (S.C.R.A.) the learned counsel appearing for the Petitioner stated that without prejudice to the rights and contentions the Petitioner would be prepared to take recourse to the alternate ( 2 ) remedy and approach the Tribunal in accordance with ( 3 ) law. However, he expressed the difficulty that there would be delay in filing the appeal under the Provisions of Section 23 (L) S.C.R.A. as the time spent, in pursuing the present writ petition would come in the way of the Petitioner, as the order is made in the year 2002. 2. Having heard the counsel appearing for the parties, we permit the Petitioner to take recourse to file Appeal, a statuary remedy available to the Petitioner. We have no doubt that the delay in filing the appeal shall be condoned in view of Petitioner pursuing the present petition. The Petitioner is also at liberty to make an application to the Tribunal for expeditious disposal of the case. CHIEF CHIEF CHIEF JUSTICE JUSTICE JUSTICE J.P.DEVADHAR,J. J.P.DEVADHAR,J. J.P.DEVADHAR,J.