sebi:EAD-9/SM/233/2018-19
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Facts / Headnote
Abated - SCN disposed of without going into merits
Provisions invoked
- s. 15G
Parties
- Late Mr. Paresh Nalinbhai Sanghavi
Holding
The adjudication proceedings initiated by SCN dated November 06, 2018 against Late Mr. Paresh Nalinbhai Sanghavi abate upon his death on August 07, 2018, and the SCN is disposed of accordingly without going into the merits.
Full text
In the matter of M/s Sabero Organics Gujarat Ltd Page 2 of 3 Adjudicating Officer) Rules, 1995 (hereinafter referred to as AO Rules) to inquire and adjudge under Section 15G of SEBI Act, 1992 on Noticee for the alleged provision of the law.
In the matter of M/s Sabero Organics Gujarat Ltd Page 3 of 3 7. The Hon’ble Securities Appellate Tribunal has also held in Chandravadan J Dalal Vs. SEBI that “The appeal abates since the appellant during the pendency of the appeal died on 29th November, 2004. The appeal accordingly abates”.
Show Cause Notice and Reply: 4. Show Cause Notice dated November 06, 2018 (hereinafter referred to as ‘SCN”) was issued to Noticee under Rule 4 of the AO Rules to show cause as to why an inquiry should not be initiated against Noticee and penalty not be imposed upon it under Section 15G of SEBI Act for the alleged provisions of law. The SCN issued to the said address “B/703, Sai Leela Apt, above Vijaya Bank, Dahisar (East), Mumbai – 400 068 was returned undelivered stating “left”. The new address, e-mail id and telephone number of the Noticee was procured and SCN was sent again. The Physical SCN sent on the address “B/1401, Garden Groove, Phase Shimpoli Gorai Road, Chikuwadi, Borivali (West), Mumbai – 400092 was returned undelivered. The SCN sent at e-mail address sanghvitimir@yahoo.co.in, with digital signature was delivered. . Shri Timir P Sanghavi (Reportedly Son of the Noticee) vide his letter dated December 22, 2018 informed that his father the Noticee had passed away on August 07, 2018. Shri Timir P Sanghavi in his aforesaid letter has also attached a copy of the death certificate issued by competent authority on August 18, 2018 in this regard.
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Source: SecMarx — sebi:EAD-9/SM/233/2018-19. 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.