sebi:WTMN/80/MIRSD/8/2004
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Facts / Headnote
Surrender of Certificate of Registration accepted and Certificate cancelled
Provisions invoked
- s. 19
Regulations
- Reg. 16(5)
- Reg. 16
- Reg. 15
Parties
- T.H. Vakil Shares & Securities Pvt. Ltd
Holding
The surrender of the Certificate of Registration as Depository Participant by T.H. Vakil Shares & Securities Pvt. Ltd is accepted and the Certificate is cancelled with immediate effect.
Full text
VSSPL surrendered its Certificate of Registration as Depository Participant of CDSL in February 2004. CDSL has approved the same vide letter dated March 11, 2004 to SEBI with a recommendation to cancel the same. In terms of Regulation 15 (i) of the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 (hereinafter referred to as "Enquiry Regulations"), summary procedure under regulation 16 ibid may be followed where an intermediary surrenders its certificate of registration to the Board. Accordingly, as per summary procedure, an enquiry officer was appointed vide order of the Member dated June 14, 2004 to submit a report. The enquiry officer submitted his report on July 22, 2004. I have considered the facts of the matter and report of the enquiry officer and other material on record. Enquiry Officer had issued a notice to VSSPL vide letter dated June 22, 2004 giving an opportunity for written submissions. It was also mentioned in the notice that if no reply is received the matter will be proceeded in accordance with the provisions of the said regulations. However no reply was received from VSSPL for the aforesaid notice. It is noted that CDSL had recommended acceptance of the application of VSSPL for surrender of Certificate of Registration as Depository Participant and cancellation of the registration after all conditions under the bye laws were found fulfilled. The enquiry officer has also reported that it was confirmed that there we
Date: August 27, 2004 Place:MUMBAI SECURITIES AND EXCHANGE BOARD OF INDIA
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Source: SecMarx — sebi:WTMN/80/MIRSD/8/2004. 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.