sebi:WTM/PS/96/CFD/DEC/2015
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Facts / Headnote
Directions issued vide the interim order dated June 04, 2013 against Eider Infotech Limited, its directors, promoters and promoter group are confirmed; order to remain in force till further directions.
Provisions invoked
- s. 19
- s. 21
- s. 12A
Parties
- Eider Infotech Limited (earlier known as Eider Telecom Limited)
- directors of Eider Infotech Limited
- promoters and promoter group of Eider Infotech Limited
Holding
SEBI confirmed the directions issued vide the interim order dated June 04, 2013 against Eider Infotech Limited, its directors, promoters and promoter group for failure to maintain the minimum public shareholding of 25%.
Full text
Page 2 of 3 Limited to Eider Infotech Limited) as the Company was not in compliance with all the requirements. BSE also stated that the trading in the shares of the Company was suspended since February 2002 for non-payment of annual listing fees.Further, BSE, vide email dated November 23, 2015 also intimated SEBI that the listing of the Company at other stock exchanges could not be ascertained as Annual Reports and Secretarial Audit Reports were not submitted by the Company.
Page 3 of 3 may also initiate other action, as appropriate in law, against the Company, its directors and promoters. 7. Accordingly, I, in exercise of the powers conferred upon me under section 19 of the Securities and Exchange Board of India Act, 1992 read with sections 11(1), 11(2)(j), 11(4) and 11B thereof and section 12A of the Securities Contracts (Regulation) Act, 1956, hereby confirm the directions issued vide the interim order dated June 04, 2013 against the company, Eider Infotech Limited (earlier known as Eider Telecom Limited) {the companies referred to in sr. nos. 79 & 105 in Table IV-Suspended Companies at page 8 & 9 of the interim order dated June 04, 2013}, its directors, promoters and promoter group.
4. I note that the interim order was forwarded to the Company vide SEBI letter dated June 05, 2013 and was received by the Company. However, no reply was submitted by the Company in the case. The Company had also received SEBI letters dated June 11, 2014 and June 17, 2014 informing it of the personal hearings scheduled on July 10, 2014 and August 01, 2014. However, the Company neither filed any response nor attended the personal hearing. As a final opportunity, the Company was afforded a final opportunity of personal hearing on October 08,
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Source: SecMarx — sebi:WTM/PS/96/CFD/DEC/2015. 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.