sebi:PB/AO-11/2010
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Facts / Headnote
Matter disposed of as infructuous; adjudication proceedings cannot be proceeded with
Provisions invoked
- s. 19
- s. 446
- s. 19H
- s. 19D
- s. 391
- s. 449
Regulations
- Reg. 199
- Reg. 54
Parties
- M/s Kengold (I) Ltd.
Holding
The adjudication proceedings initiated against the Noticee after the winding-up order dated June 16, 2005 without leave of the winding-up court are infructuous and cannot be proceeded with. The matter is accordingly disposed of.
Full text
Page 1 of 5 BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA [ADJUDICATION ORDER NO. PB/AO- 11/2010]
Page 2 of 5 2. The aforesaid delay is alleged to be in violation of regulation 54 (5) of SEBI (Depositories and Participants) Regulations 1996, (hereinafter referred as “DP Regulations") and liable for penalty under section 19D of the Depositories Act, 1996 (hereinafter referred to as the "Depositories Act"). APPOINTMENT OF ADJUDICATING OFFICER 3. Mr. V. S. Sundaresan was appointed as Adjudicating Officer under section 19H of Depositories Act read with rule 3 of Depositories (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 2005 (hereinafter referred to as "Rules") vide order dated March 11, 2008 to inquire into and adjudge the alleged violation of regulation 54 (5) of DP Regulations. Consequent to the transfer of Mr. V.S Sundaresan, I have been appointed as the Adjudicating Officer vide
Page 3 of 5 in Company Petition No. 149 of 2000 with Company Petition No. 31 of 2002 and the Official Liquidator attached to the Hon’ble High Court Gujarat became the Liquidator of the said company .
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Source: SecMarx — sebi:PB/AO-11/2010. 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.