sebi:WTM/MPB/ISD/137/2018
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Facts / Headnote
Revocation of actions envisaged in SEBI's letter dated August 07, 2017 and consequential actions taken by Stock Exchanges against Sanco Industries Ltd.
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
- s. 11(1)
Parties
- Sanco Industries Ltd.
Holding
The actions envisaged in SEBI's letter dated August 07, 2017 and the consequential actions taken by Stock Exchanges against Sanco Industries Ltd. are revoked, and the representations dated August 8, 2017 and August 16, 2017 made by SIL are disposed of.
Full text
Order in the matter of Sanco Industries Ltd. Page 2 of 15 reneging on the fiduciary responsibility cast on the board, controlling shareholders and key management person (KMP)
Order in the matter of Sanco Industries Ltd. Page 3 of 15 8. Vide its letter dated August 08, 2017, SIL made a representation, inter alia, submitting as under:
Order in the matter of Sanco Industries Ltd. Page 4 of 15 That under the circumstances we call upon you to forthwith withdraw such direction on our company and same to be placed under normal trading as was being done.
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Source: SecMarx — sebi:WTM/MPB/ISD/137/2018. 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.