An inquiry report by respondent No.6 has been submitted by respondent No.6 on September 11,1996, pursuant to the order of this Court dated March 26,1996.Mr.Kirit Raval, learned Counsel appearing for the respondent No.6 states that Securities and Exchange Board of India is likely to initiate some action against the defaulters or the person concerned who committed irregularities/illegalities, as detailed in the report. The said report is still in sealed condition and it is not yet opened. Mr.Raval further states that he would be in a position to make a statement about the time within which the proposed action could be initiated, within a couple of days. The matter is, therefore, stayed over to 27.9.1996.
sd/-
(D.G.Karia,J.) ***