sebi:VKV/DL/AO-37/2016
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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 Nova Udyog Limited
Holding
The adjudication proceedings initiated against the Noticee vide SCN dated February 02, 2016 under Section 15C of the SEBI Act cannot be proceeded with and the matter is disposed of because the Noticee is under liquidation.
Full text
Adjudicating Order in respect of M/s Nova Udyog Limited February 16, 2016 Page 2 of 5 upon such company to redress the investor complaint. It was observed that two (02) investor complaint(s) were pending against the Noticee as on July 20, 2012.
Adjudicating Order in respect of M/s Nova Udyog Limited 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 Nova Udyog Limited February 16, 2016 Page 4 of 5 "Section 446 of the Companies Act, 1956
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Source: SecMarx — sebi:VKV/DL/AO-37/2016. 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.