sebi:VKV/DL/AO-40/2016
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Facts / Headnote
Disposed of - adjudication proceedings cannot be proceeded with
Provisions invoked
- s. 15
- s. 15I
- s. 15J
- s. 15C
- s. 446
- s. 391
Parties
- M/s Rajinder Pipes Limited
Holding
The adjudication proceedings initiated against the Noticee under Section 15C of the SEBI Act cannot be proceeded with because the Noticee is under liquidation and no leave of the Court was obtained as required under Section 446 of the Companies Act, 1956.
Full text
Adjudicating Order in respect of M/s Rajinder Pipes Limited February 16, 2016 Page 2 of 5 upon such company to redress the investor complaint. It was observed that four (04) investor complaint(s) were pending against the Noticee as on July 20, 2012.
Adjudicating Order in respect of M/s Rajinder Pipes 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 Rajinder Pipes Limited February 16, 2016 Page 4 of 5 company except by leave of the Tribunal and subject to such terms as the Tribunal may impose.
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Source: SecMarx — sebi:VKV/DL/AO-40/2016. 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.