sebi:VSS/AO-63/2008
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Facts / Headnote
Adjudication proceedings disposed of as infructuous and cannot be 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 Anco Communications Limited (in Liqn.)
Holding
The adjudication proceedings initiated against the Noticee vide order dated March 10, 2008 are infructuous and cannot be proceeded with, and the matter is accordingly disposed of.
Full text
Page 2 of 8 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 8 December 12, 2008 at SEBI, Southern Regional Office, Chennai. On the said date, the Noticee did not appear for the hearing.
Page 4 of 8 incurred losses. The said Application in pending before the Honourable High Court Of Karnataka, Bangalore. This is for your information.
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Source: SecMarx — sebi:VSS/AO-63/2008. 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.