sebi:EAD-9/SM/210/2018-19
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Facts / Headnote
Proceedings abated; SCN disposed of without going into merits
Provisions invoked
- s. 15H
Holding
The adjudication proceedings initiated against the Noticee abate on account of his death on August 16, 2017. The SCNs dated February 26, 2018 and June 26, 2018 qua the Noticee are disposed of accordingly without going into the merits.
Full text
In the matter of M/sz Kelvin Fincap Ltd Page 2 of 2 Rules to show cause as to why an inquiry should not be initiated against the Noticee and
penalty not be imposed upon it under Section 15HA of SEBI Act for the alleged Violations. 5. The undersigned received a letter dated March 17, 2018 and July 18, 2018 from one Mr. Dinesh R Kothari (son of Noticee) informing that the Noticee had passed away on August 16, 2017. A copy of the death certificate in this respect is on record before me. .
ISSUES FOR CONSIDERATION AND FINDINGS: 6. I have perused the death certificate submitted in the matter and find that Noticee had passed away on August 16, 2017. Before proceeding further in the mater on merit, it would be in the fitness of things to first decide as to whether on the death of the Noticee, the present adjudication proceedings against him would continue or abate.
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Source: SecMarx — sebi:EAD-9/SM/210/2018-19. 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.