sebi:AO/VKV-AS/05/2018
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Facts / Headnote
Adjudication proceedings held not maintainable and disposed of
Provisions invoked
- s. 15
- s. 15C
- s. 279
- s. 446
Parties
- Lakhani India Ltd.
Holding
The adjudication proceedings initiated against Lakhani India Ltd. vide SCN dated August 3, 2017 were held not maintainable and were disposed of accordingly.
Full text
2 Adjudication Order in respect of Lakhani India Ltd. 4. It was alleged that Noticee had not obtained the SCORES authentication by September 14, 2012, as required by the aforesaid Circular dated August 13,
3 Adjudication Order in respect of Lakhani India Ltd. 8. A Notice under Rule 4 (1) of the Adjudication Rules was published on December 30, 2017 in the national daily and regional newspaper(s) at the registered office place of the Noticee, whereby the Noticee was advised to collect the copy of the SCN issued within 07 days of publication of the aforesaid notice and to submit its reply if any, within 14 days thereafter. The said public notice was seen by the Official Liquidator, Hon’ble Punjab and Haryana High Court, Chandigarh. In reply to the SCN, the Office of Official Liquidator, Hon’ble Punjab and Haryana High Court, Chandigarh vide letter ref. no. LIL/Crspd/Part-II/Liqn./2067 dated December 21, 2017 informed that Hon’ble High Court, Chandigarh vide Order dated 21.04.2015 and 25.05.2015 in Company Petition No. 159 of 2013, the Company viz., M/s Lakhani India Ltd., (In Liqn) has been ordered to be wound up and the Official Liquidator attached to the said Court has been appointed as the Provisional Liquidator, thereof with usual powers under the Companies Act, 1956.
4 Adjudication Order in respect of Lakhani India Ltd. “Section 446 of Companies Act, 1956 When a winding up order has been made or the Official Liquidator has been appointed as provisional liquidator, no suit or other legal proceeding shall be commenced, or if pending at the date of the winding up order, shall be proceeded with, against the company, except by leave of the Tribunal and subject to such terms as the Tribunal may impose.”
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Source: SecMarx — sebi:AO/VKV-AS/05/2018. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.