sebi:PKB/AO-21/2009
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Facts / Headnote
Disposed of as infructuous without penalty
Provisions invoked
- s. 446
- s. 391
Parties
- Opal Industries Limited
Holding
The adjudication proceedings against Opal Industries Ltd initiated vide SEBI order dated August 21, 2007 are infructuous and barred by Section 446 of the Companies Act, 1956, and the matter is accordingly disposed of.
Full text
Adjudication Order in respect of Opal Industries Limited. Page 2 of 3 06/04/2009 back undelivered. SCN was resent on November 05, 2007 and February 29, 2008 which again came back undelivered.
Adjudication Order in respect of Opal Industries Limited. Page 3 of 3 06/04/2009 (d) any question of priorities or any other question whatsoever, whether of law or fact, which may relate to rise in course of the winding up of the company. whether such suit or proceeding has been instituted or is instituted or such claim or question has arisen or arises or such application has been made or is made before or after the order for the winding up of the company, or before or after the commencement of the Companies (Amendment) Act, 1960 (65 of 1960)] (3) (Omitted) [(4)] nothing in sub-section (1) or sub-section (3) shall apply to any proceeding pending in appeal before the Supreme Court or a High Court].”
CONSIDERATION OF ISSUES AND FINDINGS THEREOF 4. Vide green note dated March 30, 2009, Division of Policy and Supervision – II forwarded me a letter dated March 06, 2009 from NSDL, wherein NSDL has enclosed copy of letters dated March 02, 2009 received from Link Intime India Pvt. Ltd (formerly Intime Spectrum Registry Ltd) and letter dated February 14, 2007 from the Official Liquidator of the Hon’ble High Court of Punjab and Haryana at Chandigarh informing that the company – M/s. Opal Industries Ltd has been ordered to be wound up by the Hon’ble High Court vide order dated November 23, 2006 and subsequently official liquidator has been appointed.
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Source: SecMarx — sebi:PKB/AO-21/2009. 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.