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Demolishing this contention the Supreme Court held that: "it is true that Companies Act contains Provisions regarding the issuance of prospectus, applications for shares and allotment thereof and provides different checks over the misuse of the funds collected from the public for issuance of shares or debentures. But can it be said that where persons issue prospectus and collect moneys from the public assuring them that they intend to do business with the public money for their benefit and the benefit of such public, but the real intention is to do no business other than collecting the money from the public for their personal gain, still such persons are immune from the provisions of the Indian Penal Code? In such a situation the quashing of the prosecution pending against the appellants only on the ground that it was open to the applicants for shares to have recourse to the provisions of the Companies Act, cannot be accepted" Conclusion: Thus, the aforesaid discussion clearly points out that the SEBI has no exclusive domain and the prosecution under the penal statute can be initiated in the securities related frauds if it attracts the cognizable offences punishable under the Indian Penal Code or IT Act, 2000.

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Quite, Sith embrace strife and dark ardour as salutary and emancipatory forces, as they imagine that violent wrestle purges the decadent and weak, and that feelings similar to aggression and hate present the energy and resolve to safe freedom by means of victory.

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