sebi:WTM/RKA/EFD-DRA-I/73/2015
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Facts / Headnote
SCN dated March 28, 2013 against IDI Limited disposed of without any direction
Provisions invoked
- s. 19
Parties
- IDI Limited
Holding
The SCN dated March 28, 2013 against IDI Limited was disposed of without any direction. This order shall come into force with immediate effect.
Full text
In the matter of IDI Ltd. Page 2 of 2 Mafatlal Centre, 5th Floor, Nariman Point, Mumbai”. However, the said SCN returned undelivered with remarks “shifted”. Vide letter dated January 7, 2014, SEBI again forwarded a copy of the SCN to IDIL at its registered office and the aforesaid alternate address through Registered Post Acknowledgement Due. However, these letters returned undelivered with remarks “left”. Finally, the SCN was served upon IDIL by way of affixture at its registered office and the abovementioned alternate address on January 31, 2014 and February 6, 2014 respectively. I note that till date IDIL has not filed any reply to the SCN.
6. Pursuant to the service of the SCN, an opportunity for personal hearing was granted to IDIL on October 28, 2014. However, the notice of personal hearing returned undelivered. Subsequently, the notice of personal hearing was served on IDIL by way of affixture at its registered office address on October 13, 2014. However, IDIL failed to appear before me on the scheduled date of personal hearing.
7. I note that sufficient opportunities have been granted to IDIL and it is not keen to avail the same. I further note that IDIL has not even filed any written reply/submission to the SCN. In view of these facts and circumstances, I deem it appropriate to decide the matter on the basis of material available on record.
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Source: SecMarx — sebi:WTM/RKA/EFD-DRA-I/73/2015. 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.