sebi:EAD-9/SM/82/2018-19

SEBI · SEBI · 2017-05-18 · Sahil Malik, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Abated; SCN disposed of without going into merits

Provisions invoked

• s. 15

Regulations

• Reg. 7
• Reg. 3(i)

Parties

• Omkarmal Agarwal

Holding

The adjudication proceedings initiated against Omkarmal abate upon his death on June 08, 2015. The SCN dated July 03, 2015 with respect to Omkarmal is accordingly disposed of without going into the merits of the case.

Full text

In the matter of M/s Omkar Overseas Ltd Page 2 of 3 law. Subsequently, pursuant to the transfer of the case, the undersigned have been appointed as Adjudicating Officer, vide order dated May 18, 2017. Show Cause Notice, Reply and Personal Hearing:

In the matter of M/s Omkar Overseas Ltd Page 3 of 3 ISSUES FOR CONSIDERATION and FINDINGS: 9. I have perused the death certificate submitted in the matter and find that Noticee Omkarlal has passed away on June 08,2015 . 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.

5. Show Cause Notice dated July 03, 2015 (hereinafter referred to as ‘SCN”) was issued to the Omkarmal under rule 4 of the AO Rules to show cause as to why an inquiry should not be initiated against Omkarmal and penalty not be imposed upon it under Section 15 A(b) and 15G of SEBI Act, 1992 for the alleged provisions of law and the same was delivered.

Source: SecMarx — sebi:EAD-9/SM/82/2018-19. 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.