sebi:Order/KS/AS/2021-22/11845-11849
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Facts / Headnote
Adjudication proceedings disposed of without going into the merits of the case, as the Noticee companies had been struck off and dissolved.
Provisions invoked
- s. 11
- s. 15
- s. 15H
- s. 248(5)
- s. 248
Regulations
- Reg. 3
- Reg. 3(a)
- Reg. 3(a)(b)(c)
Parties
- Moss Traders Pvt Ltd
- Ailish Traders Pvt Ltd
- Jeshna Multitrade Pvt Ltd
- Addo Constructions Pvt Ltd
- Sunlight Commotrade Pvt Ltd
Holding
The Adjudicating Officer disposed of the adjudication proceedings initiated against the Noticees (Moss Traders Pvt Ltd, Ailish Traders Pvt Ltd, Jeshna Multitrade Pvt Ltd, Addo Constructions Pvt Ltd and Sunlight Commotrade Pvt Ltd) vide SCN dated February 08, 2018, without going into the merits of the case, because the Noticee companies had been struck off the register of companies and dissolved.
Full text
Page 2 of 14 APPOINTMENT OF ADJUDICATING OFFICER 2. The undersigned was appointed as the Adjudicating Officer, vide Order dated December 15, 2017 under Section 15-I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to SEBI Act, 1992) read with Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under the provisions of Section 15HA of the SEBI Act, 1992 the alleged violations by the Noticees.
Page 3 of 14 dated January 30, 2019, Noticee replied that the SCN had not been received by it, and requested to provide copy of the SCN via email. Vide letter and email dated August 25, 2020, Noticee was provided opportunity to submit reply to the SCN by September 07, 2020, and was granted opportunity of personal hearing on September 15, 2020. However, the said hearing notice returned undelivered. Therefore, Noticee was granted opportunity of personal hearing on December 15, 2020 vide newspaper publication dated November 30, 2020. (iii) Sunlight Commotrade Pvt Ltd- The common SCN was sent via SPAD to the Noticee. However, the said SPAD returned undelivered. Thereafter, SCN was served upon the Noticee vide publication dated May 08, 2018. Vide letter dated February 02, 2019, Noticee replied that the SCN had not been received by it, and requested to provide copy of the SCN via email. Vide letter and email dated August 25, 2020, Noticee was provided copy of the SCN in the matter. Noticee was also provided opportunity to submit reply to the SCN by September 07, 2020, and was granted opportunity of personal hearing on September 16, 2020. However, the said hearing notice returned undelivered. Therefore, Noticee was granted opportunity of personal hearing on December 15, 2020 vide newspaper publication dated November 30, 2020. (iv) Ailish Traders Pvt Ltd- The common SCN was sent via SPAD to the Noticee. However, the said SPAD returned undelivered. Thereafter, the SCN was served upon
Page 4 of 14 the SCN by September 07, 2020, and was granted opportunity of personal hearing on September 15, 2020. However, the said hearing notice returned undelivered. Therefore, Noticee was granted opportunity of personal hearing on December 15, 2020 vide newspaper publication dated November 30, 2020.
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Source: SecMarx — sebi:Order/KS/AS/2021-22/11845-11849. 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.