High Court denied to interfere with discretionary powers of SEBI to order investigation into delisti

SEBI: The petitioner-company filed writ petition before the High Court for directing SEBI to investigate into and to stay the proposed delisting of equity shares of the respondent-company. The High Court held that power of SEBI to order investigation under Regulation 5 of SEBI (Prohibition of Fraudulent and Unfair Practice Relating to Securities Market) Regulations, 2003 was discretionary.