The division bench comprising Justice AP Shah and Justice S Vajifdar, while disposing off the petition, ruled that the securities market regulator Sebi has acted very responsibly in the recent capital market crisis.

It has all the necessary powers and can handle the situation so the court's intervention is unwarranted.

The court also agreed to the submission made by the Sebi counsel that setting aside the money accruing to market manipulators is not possible and if that money will be impounded the scores of small investors will be deprived of their funds.