The Competition Commission of India (CCI) has moved the Bombay High Court to vacate the order restraining it from taking coercive action against the Trustees Association of India along with three trustee firms - IDBI, Axis and, SBICap - in furtherance of an order initiating investigation against them..Through the said order, the Court had directed the Securities and Exchange Board of India (SEBI) to commit to a date by which it would complete its inquiry and form a prima facie view on the matter before it.The ad-interim order was granted since, at the time, both CCI and SEBI were conducting independent inquiries against the Trustees Association and its members. In fact, SEBI had asked CCI not to proceed with its own enquiry until SEBI finished with the proceeding before it, the Court was told..During the hearing today, a division bench of Justices GS Patel and SG Dige was informed that the SEBI had concluded its inquiry and also submitted its report in Court. As such, the Court opined that the application filed by CCI can be finally heard. It also noted that disposal of the interim applications would result in the disposal of writ petitions moved by the Trustees Association since the arguments would concern quashing and setting aside the notice issued by CCI..The Trustees Association had challenged a CCI order directing an investigation into the association's conduct, in the wake of a complaint by Muthoot Finance.Muthoot had earlier filed a complaint before the SEBI challenging the action of Debenture Trustees (DTs) to raise their fees charged for issuers without providing any specific reason to justify such raise.While this complaint was pending adjudication, Muthoot filed another complaint before the CCI alleging violation of the Competition Act.The plea by the association said the second complaint was filed with the objective of deliberately circumventing SEBI jurisdiction. The association had submitted that the investigation was within the domain of the SEBI alone and that the CCI ought not to have passed the order directing an investigation.In April 2022, the Court had restrained the CCI from taking coercive action against the Trustees Association.