sebi:VKV/DL/AO-31/2016
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Facts / Headnote
Adjudication proceedings not proceeded with; matter disposed of
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
- s. 446
- s. 391
Parties
- M/s Ganga Asbestos Cement
Holding
The adjudication proceedings initiated against the Noticee vide SCN dated February 02, 2016 cannot be proceeded with and the matter is accordingly disposed of.
Full text
Adjudicating Order in respect of M/s Ganga Asbestos Cement February 16, 2016 Page 2 of 5 upon such company to redress the investor complaint. It was observed that one (01) investor complaint(s) were pending against the Noticee as on July 20, 2012.
Adjudicating Order in respect of M/s Ganga Asbestos Cement February 16, 2016 Page 3 of 5 7. Considering the facts and circumstances of the case the undersigned is of the opinion that no prejudice would be caused to the Noticee in the given matter, if opportunity of hearing under Rule 4(3) of Adjudication Rules is not provided to it and I deem it appropriate to decide the matter on the basis of facts/materials available on record.
Adjudicating Order in respect of M/s Ganga Asbestos Cement February 16, 2016 Page 4 of 5 2) Tribunal shall, notwithstanding anything, contained in any other law for the time being in force, have jurisdiction to entertain, or dispose of- a) Any suit or proceeding by or against the company; b) Any claim made by or against the company (including claims by or against any of its branches in India); c) Any application made under Section 391 by or in respect of the company; 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.
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Source: SecMarx — sebi:VKV/DL/AO-31/2016. 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.