Status-quo lifted on amalgamation as petitioner had an alternate remedy under SEBI norms to challeng

CL : Where status quo was granted by way of interim order in respect of application seeking clearance for scheme of amalgamation between respondent Nos. 4 and 5 during pendency of writ petition filed by petitioner challenging acquisition of shares of respondent No. 5 by respondent Nos. 4 and 7 on ground that shares were acquired in violation of Insider Trading Regulations, interim order was to be vacated as petitioner had alternative remedy under provisions of SEBI Act and Regulations made there