sebi:EAD-5/BS/AO/35/2017-18
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Facts / Headnote
Disposed of without imposition of any penalty
Provisions invoked
- s. 15
- s. 15H
Parties
- Mehta Sulfites (India) Ltd.
Holding
The adjudication proceedings against Mehta Sulfites (India) Ltd. for failure to obtain SCORES authentication under the SEBI Consolidated Circular were disposed of without imposition of any penalty.
Full text
Page 2 of 5 action under the rescinded circulars before the date of issuance of SEBI Consolidated Circular, shall be deemed to have been done or taken or commenced under the provisions of SEBI Consolidated Circular.
Page 3 of 5 6. Vide letter received by SEBI on June 12, 2017, Noticee made the following submissions: a) Company’s operations were suspended and closed in 2000-2001 due to unforeseen circumstances as the plant was taken over by SICOM Ltd., to whom the plant and machinery had been mortgaged against a loan and all the assets including land, plant and machinery were sold by them in 2004. b) We did not receive any correspondence from SEBI which may have been addressed to our old registered address at the factory which was taken over by SICOM Ltd. in 2002 and sold by it in 2004.
Page 4 of 5 10. I have carefully perused the submissions of the Noticee, and the documents available on record. The issues that arise for consideration in the present case are:
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Source: SecMarx — sebi:EAD-5/BS/AO/35/2017-18. 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.