sebi:Order/SM/S./2022-23/24971
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Facts / Headnote
Adjudication proceedings initiated vide SCN dated August 06, 2022 disposed of without penalty as not maintainable - cannot be proceeded with against struck-off/dissolved company
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 248
- s. 560
Regulations
- Reg. 4(1)
- Reg. 3(a)
Parties
- Foxglove Vinimay Private Limited
Holding
The adjudication proceedings initiated against Foxglove Vinimay Private Limited vide SCN dated August 06, 2022 were disposed of without any finding on merits because the Noticee had already been struck off from the ROC register and stood dissolved, and proceedings against a non-existing company cannot be proceeded with.
Full text
___________________________________________________________________________ Adjudication order in respect of Foxglove Vinimay Private Limited in the matter of Illiquid Stock Options at BSE Page 2 of 4
___________________________________________________________________________ Adjudication order in respect of Foxglove Vinimay Private Limited in the matter of Illiquid Stock Options at BSE Page 3 of 4
___________________________________________________________________________ Adjudication order in respect of Foxglove Vinimay Private Limited in the matter of Illiquid Stock Options at BSE Page 4 of 4
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Source: SecMarx — sebi:Order/SM/S./2022-23/24971. 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.