sebi:VSS/AO-43/2009
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Facts / Headnote
Adjudication proceedings held infructuous and not proceeded with; matter disposed of
Provisions invoked
- s. 4(3)
- s. 19H
- s. 446
- s. 19D
- s. 391
- s. 449
Regulations
- Reg. 199
- Reg. 54
Parties
- M/s Precision Fastners Limited
Holding
The adjudication proceedings initiated against the Noticee vide order dated March 10, 2008 are infructuous and therefore cannot be proceeded with.
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
Page 3 of 7 5. Meanwhile, I find from the website http://www.companyliquidator.gov.in/ that the Hon’ble High Court of Bombay, Mumbai, had passed an order of winding up against M/s Precision Fastners Limited in an order dated April 13, 1999 made in C.P.No. 898 of 99 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 Sl.No. Date Events 1. April 13, 1999 Winding up order passed by the Hon’ble High Court of Bombay, Mumbai 2. March 10, 2008 Approval by the Chairman, SEBI, of the initiation of Adjudication proceedings against Noticee
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Source: SecMarx — sebi:VSS/AO-43/2009. 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.