sebi:WTM/RKA/OIAE/37/2012
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Facts / Headnote
Show cause notices disposed of without any directions
Provisions invoked
- s. 15A
- s. 15C
Parties
- Jayant Vitamins Limited
- Projesh Kumar Ray
- Lalit Kumar Mishra
- Hiten Purshottam Mange
Holding
The show cause notices issued to Jayant Vitamins Limited and its directors were disposed of without any directions, as the Company had resolved all pending investors' complaints by September 12, 2012.
Full text
Page 2 of 4 Hiten Purshottam Mange (hereinafter the Company and its directors would be collectively referred to as "the noticees"). Mr. Projesh Kumar Ray vide letter dated November 30, 2009 inter alia stated that he is a non-executive director in the Company and not involved in the Company's day to day functioning and therefore would not be able to submit the ATR. He further submitted that he has forwarded the SEBI letter to the Company requesting it to comply with SEBI's requirements.
Page 3 of 4 that the Company is taking steps to appoint a Registrar and Share Transfer Agent. The learned counsel requested for copies of the complaints that were unresolved by the Company and requested further time for redressing the complaints. On a consideration of the matter, I had granted time till May 15, 2012 to the Company to resolve all pending investors' complaints and to submit the ATR. The Company was also allowed to submit fortnightly status reports on the redressal of complaints. The noticees were informed that if complaints are not resolved within the time so granted, the directions contemplated in the SCNs would be issued. SEBI also sent letters to the noticees informing them about the
Page 4 of 4 pending investors' complaints that were the cause for the issuance of the SCNs as well as other complaints as on September 12, 2012, I am of the view that the SCNs issued to the Company and its directors be disposed off without any directions.
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Source: SecMarx — sebi:WTM/RKA/OIAE/37/2012. 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.