sebi:CO/133/MIRSD/01/2005

SEBI · SEBI · 2004-02-09 · G N Bajpai, Chairman, SEBI

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Facts / Headnote

No adverse directions issued; show cause proceedings closed without penalty

Provisions invoked

• s. 19

Regulations

• Reg. 53
• Reg. 54(5)

Parties

• Baroda Rayon Corporation Ltd.

Holding

No adverse directions under Section 19 of the Depositories Act, 1996 were issued against Baroda Rayon Corporation Ltd. for delay in dematerialisation of shares, as the company had reduced the pendency of dematerialisation requests to nil.

Full text

Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order against Baroda Rayon Corporation Ltd Jan 27, 2005 | Orders : Orders of Chairman/Members SECURITIES AND EXCHANGE BOARD OF INDIA

days against Baroda Rayon Corporation Ltd. (hereinafter referred to as “BRCL”) as on December 12, 2003. 2. Pursuant to the information provided by the depository, SEBI issued a show cause notice dated 09.02.04 to BRCL advising it to show cause as to why appropriate directions under section 19 of the Depositories Act, 1996 be not issued against it for violating the provisions of Regulation 53 read with Regulation 54(5) of SEBI (Depositories and Participants) Regulation, 1996 and the Depositories Act, 1996.

pendency of dematerialisation requests and in fact brought it down to Nil. In view of the same, I am of the considered view that no adverse directions under Section 19 of Depositories Act, 1996 need be issued against Baroda Rayon Corporation Ltd. Sd- Place: Mumbai G N BAJPAI Date: 27.1.05 CHAIRMAN SECURITIES AND EXCHANGE BOARD OF INDIA

Source: SecMarx — sebi:CO/133/MIRSD/01/2005. 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.