sebi:WTMN/48/MIRSD/7/04
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Facts / Headnote
Application for certificate of registration as Share Transfer Agent rejected
Provisions invoked
- s. 11
- s. 19
Regulations
- Reg. 10
Holding
SEBI rejected the application of Single Point Security Solutions Pvt. Ltd. for a certificate of registration as a Share Transfer Agent, finding the applicant company was connected with and indirectly controlled by persons debarred from accessing the capital market.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ ORDER IN THE MATTER OF APPLICATION FOR GRANT OF CERTIFICATE OF REGISTRATION BY SINGLE POINT SECURITY SOLUTIONS PRIVATE LIMITED, AS A SHARE TRANSFER AGENT. WTMN/48/MIRSD/7/04
1. Single Point Security Solutions Pvt. Ltd., a company having its registered office at Silvassa (hereinafter referred to as ‘the applicant company’) submitted an application dated April 03, 2003 for registration under Securities and Exchange Board of India (Registrar to an Issue and Share Transfer Agents) Regulations, 1993 (hereinafter referred to as ‘the said regulations’) to Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) for grant of certificate of registration for the purpose of carrying on the activities as a Share Transfer Agent. As per the said application for registration, the applicant company is owned by two shareholders namely Shri Jayesh Merchant and Shri Subhash Jambhale (Directors) each holding 50% of the share capital and the principal officer is Shri Jayesh Merchant (Director). Its corporate office is situated at Krishna House, Raghuvanshi Mills Compound, Lower Parel (W), Mumbai.
The aforesaid persons were also promoter directors of KSL and Industries Ltd. The said KSL and Industries Ltd and its directors viz. S/ Shri Sanjay K. Tayal, Pravin K. Tayal and Navin K. Tayal stand debarred from accessing the capital market for a period of 2 years by SEBI vide its directions dated June 18, 2003 passed under section 11 and 11B of the SEBI Act, 1992 for violation of the provisions of Securities and Exchange Board of India (Prohibition of Fraudulent and unfair Trade Practices relating to Securities Market) Regulations, 1995 in the matter of Pashupati Cable Ltd.
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Source: SecMarx — sebi:WTMN/48/MIRSD/7/04. 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.