sebi:EAD/BD/NR/2019-20/7088
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Facts / Headnote
Abated - proceedings against the deceased Noticee abate; matter disposed without going into merits
Provisions invoked
- s. 15A
- s. 15
- s. 19
Parties
- GDLSN Raju
Holding
The adjudication proceedings against Noticee GDLSN Raju abate on account of his death. The matter is disposed accordingly without going into the merits of the case.
Full text
Adjudication Order in the matter of NCL Industries Ltd., Page 2 of 3 Order dated July May 18, 2019 under Section 19 of SEBI Act read with Sub-section 1) of Section 15-I of the SEBI Act, 1992 and Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as “SEBI Adjudication Rules”) to inquire into and adjudge under 15A(b) of SEBI Act for the alleged violation of the provisions of SEBI (PIT) Regulations by the Noticee.
Adjudication Order in the matter of NCL Industries Ltd., Page 3 of 3 survive to or against the representatives and in such cases the maxim actio personalis moritur cum persona (personal action dies with the death of the person) would apply.
SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 4. A Show Cause Notice (SCN) bearing ref. no., EAD/BJD/NJMR/2878/2/2020 dated January 22, 2020 was issued to the Noticee under Rule 4(1) of the SEBI Adjudication Rules to show cause as to why an inquiry should not be held and
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Source: SecMarx — sebi:EAD/BD/NR/2019-20/7088. 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.