sebi:WTM/RKA/OIAE/18/2014
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Facts / Headnote
Restrained and prohibited Unity Agrotech Industries Limited from accessing the securities market and from buying, selling or dealing in securities, directly or indirectly, till all investors' grievances against it are resolved and it has obtained SCORES authentication.
Provisions invoked
- s. 11B
- s. 19
- s. 113
- s. 55A
- s. 207
Regulations
- Reg. 95
Parties
- Unity Agrotech Industries Limited
Holding
Unity Agrotech Industries Limited is restrained from accessing the securities market and from buying, selling or dealing in securities, directly or indirectly, in whatsoever manner, till all the investors' grievances against it are resolved and it has obtained SCORES authentication in terms of the SEBI circular dated August 13, 2012.
Full text
Order in the matter of Unity Agrotech Industries Limited Page 2 of 5 the securities market for a specified period should not be passed under section 11B of the Securities and Exchange Board of India Act, 1992, for non-redressal of the investor grievances, for a specific period / till all pending investor grievances against it, as on the date, are resolved. The SCN was sent at the registered office of Unity Agrotech at ‘Unity Agrotech Industries Limited, 109/111, Shiv Smriti Chambers, 49, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra - 400018’ and its carbon copy at the alternate address of Unity Agrotech at ‘Unity Agrotech Industries Limited, Gala no. 209, Sona Udyog Estate, Parsi Panchayat Road, Andheri East, Mumbai, Maharashtra – 400069.’ However, the SCN sent at the registered office address and alternate address of Unity Agrotech returned undelivered with remarks 'no such company' and 'wrong address', respectively.
Order in the matter of Unity Agrotech Industries Limited Page 3 of 5 10. I have considered the SCN issued to Unity Agrotech and other material available on record. From the record available before me, I note that vide its letter dated February 15, 2013 and thereafter SCN dated March 28, 2013, SEBI has forwarded eleven investor grievances, pending unresolved as on that date, to Unity Agrotech for redressal. SEBI has also received two more investor grievances on April 24, 2013 and April 25, 2013 against Unity Agrotech in respect of non-receipt of shares after transfer. The details of these investor grievances are enumerated in the following tables:
Order in the matter of Unity Agrotech Industries Limited Page 4 of 5 certificates after transfer, non-updation of address/signature or corrections, non-receipt of any correspondence, etc.
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Source: SecMarx — sebi:WTM/RKA/OIAE/18/2014. 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.