The Supreme Court today issued notices to the Centre and 14 life insurers on a petition by market regulator Sebi seeking transfer of cases from High Courts relating to Unit Linked Insurance Products (ULIPs). Sebi is locked in a turf battle with insurance regulator IRDA over who has jurisdiction over ULIPs. A bench headed by Justice S H Kapadia also sought response from some PIL litigants who have raised the issue concerning ULIPs in various High Courts. During a brief hearing, when the petition filed by Sebi was mentioned by Attorney General G E Vahanvati, the bench questioned Sebi's move to file the petition before the apex court.<br/>The bench remarked that, the Sebi, insurance companies and the LIC is in Mumbai, and indicated that the matter could have been heard by the Bombay High Court. Vahanvati, in his submission, said that the issue of jurisdiction too has to be settled by the apex court. The bench said, basically, both the regulators are fighting and wondered why not appoint a super regulator. The court later posted the matter for hearing on July 8.<br/>