sebi:EAD-5/BS/AO/46/2017-18
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Facts / Headnote
Adjudication proceedings disposed of without penalty
Provisions invoked
- s. 15
- s. 15H
- s. 279
- s. 446
Parties
- Kayetee Cotsynth Industries Ltd.
Holding
The adjudication proceedings against Kayetee Cotsynth Industries Ltd. for failure to obtain SCORES authentication were disposed of without penalty as not fit for proceeding further at this stage.
Full text
Page 2 of 6 action under the rescinded circulars before the date of issuance of SEBI Consolidated Circular, shall be deemed to have been done or taken or commenced under the provisions of SEBI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 6 6. Vide letter received by SEBI on June 19, 2017, Noticee made the following submissions: a) The present status of the company is that the Official Liquidator attached Hon’ble High Court of Bombay is appointed for winding up of the Company. b) The manufacturing operation of the Company was suspended since October, 2000 and for the past more than 17 years the company has no business activity and no source of income and no resources. The secured lenders took the possession under SARFAESI Act and sold all movable assets except the Land and Building. The land and building is attached by the Collector of Land revenue for the Sales tax dues. c) Though the company was listed with Bombay Stock Exchange because of financial constraint, the company has not paid listing fees to BSE since 2001 and trading of the shares is suspended by BSE.
Page 4 of 6 a) Whether the Noticee has violated the provisions of SEBI Circular No. CIR/OIAE/1/2014 dated December 18, 2014 by failing to obtain SCORES authentication? b) Does the violation, if any, on the part of the Noticee attract monetary
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Source: SecMarx — sebi:EAD-5/BS/AO/46/2017-18. 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.