sebi:Order/SM/DD/2020-21/11247
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Facts / Headnote
Adjudication proceedings initiated vide SCN dated April 20, 2017 disposed of without penalty as not maintainable against a struck-off and dissolved company
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 15I
- s. 248
- s. 560
Regulations
- Reg. 3(a)
Parties
- Drona Distributors Private Limited
Holding
The adjudication proceedings against Drona Distributors Private Limited initiated vide SCN dated April 20, 2017 cannot be proceeded with and are disposed of because the Noticee's name was struck off and the company dissolved on October 25, 2019.
Full text
Adjudication Order in respect of Drona Distributors Pvt. Ltd. in the matter of Birla Pacific Medspa Limited Page 2 of 6 v. To enlist Company’s shares on Bombay Stock Exchange Limited
Adjudication Order in respect of Drona Distributors Pvt. Ltd. in the matter of Birla Pacific Medspa Limited Page 3 of 6 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in respect of Drona Distributors Pvt. Ltd. in the matter of Birla Pacific Medspa Limited Page 4 of 6 8. The SCN issued to the Noticee returned undelivered on April 26, 2017 with the reason “Addressee Moved/Not Known”. Vide email dated October 17, 2018, addressed to the Noticee and directors of the company, the SCN was once again served on the Noticee inter-alia with the remarks ““You are hereby notified that you are required to provide a response to the SCN as annexed to this email within 15 days from the issuance of this email.” However, no reply was received from the Noticee. A newspaper publication was also made in terms of AO Rules wherein the Noticee was advised to submit the reply on or before February 05, 2019, and to attend the hearing on February 12, 2019, before the erstwhile AO. However, the Noticee did not appear for the hearing and did not seek any further date of hearing. Vide email dated November 04, 2020, another opportunity of hearing was granted to Noticee on November 19, 2020 before the erstwhile AO.
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Source: SecMarx — sebi:Order/SM/DD/2020-21/11247. 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.