sebi:Order/KS/AS/2021-22/11556-11557
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Facts / Headnote
Adjudication proceedings disposed of without going into the merits of the case, as the Noticees had been struck off the register of companies and dissolved.
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 248(5)
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Devakantha Trading Private Limited
- Udbal Mercantile Private Limited
Holding
The Adjudicating Officer disposed of the adjudication proceedings initiated against Devakantha Trading Private Limited and Udbal Mercantile Private Limited vide SCN dated November 02, 2018, without going into the merits of the case, because the Noticees had been struck off the register of companies and dissolved.
Full text
Page 2 of 10 Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as PFUTP Regulations, 2003) by certain entities.
Page 3 of 10 2020. However, no communication was received for the Noticee as regards the SCN. (ii) Devakantha Ptrading Pvt Ltd- The common SCN was delivered via SPAD to the Noticee as per the records. However, no communication was received from the Noticee as regards the SCN.
Page 4 of 10 SEBI Act, 1992 Prohibition of manipulative and deceptive devices, insider trading and substantial acquisition of securities or control. 12A. No person shall directly or indirectly— (a) use or employ, in connection with the issue, purchase or sale of any securities listed or proposed to be listed on a recognized stock exchange, any manipulative or deceptive device or contrivance in contravention of the provisions of this Act or the rules or the regulations made thereunder; (b) employ any device, scheme or artifice to defraud in connection with issue or dealing in securities which are listed or proposed to be listed on a recognised stock exchange; (c) engage in any act, practice, course of business which operates or would operate as fraud or deceit upon any person, in connection with the issue, dealing in securities which are listed or proposed to be listed on a recognised stock exchange, in contravention of the provisions of this Act or the rules or the regulations made thereunder; PFUTP Regulations, 2003
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Source: SecMarx — sebi:Order/KS/AS/2021-22/11556-11557. 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.