sebi:VSS/AO-113/2009
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Facts / Headnote
Disposed of as infructuous - adjudication proceedings not proceeded with
Provisions invoked
- s. 4(3)
- s. 19H
- s. 446
- s. 19D
- s. 391
- s. 449
Regulations
- Reg. 199
- Reg. 54
Parties
- M/s Indo-French Biotech Enterprises Limited
Holding
The adjudication proceedings initiated against the Noticee vide order dated March 10, 2008 are infructuous and therefore cannot be proceeded with. The matter is accordingly disposed of without adjudication on merits.
Full text
Page 2 of 7 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”). Accordingly, Securities and Exchange Board of India (hereinafter referred to as “SEBI”) initiated adjudication proceedings under section 4(3) of Securities and Exchange Board of India,1992 (hereinafter referred to as “SEBI Act”) read with section 19H of the Depositories Act against Noticee vide order dated March 10, 2008.
Page 3 of 7 Bombay, Mumbai, had passed an order of winding up against M/s Indo-French Biotech Enterprises Limited in an order dated July 01, 2004 made in C.P.No. 227 of 1997 and the Official Liquidator attached to the Hon’ble High Court of Bombay, Mumbai, became the Liquidator of the said company by virtue of provisions of section 449 of the Companies Act, 1956
Page 4 of 7 3. March 11,2008 Appointment of Adjudicating Officer to conduct the adjudication proceedings against the Noticee
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Source: SecMarx — sebi:VSS/AO-113/2009. 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.