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RUBFILA International Limited NIDA v/s Securities and Exchange Board of India, SEBI Bhavan & Another
Company & Directors' Information:- INDIA SECURITIES LIMITED [Not available for efiling] CIN = L99999TN1984PLC016521
Company & Directors' Information:- V AND S INTERNATIONAL PVT LTD [Active] CIN = U74899DL1992PTC049964
Company & Directors' Information:- RUBFILA INTERNATIONAL LTD [Active] CIN = L25199KL1993PLC007018
Company & Directors' Information:- SECURITIES INTERNATIONAL LIMITED [Strike Off] CIN = U67120WB1994PLC063995
Company & Directors' Information:- S B SECURITIES PRIVATE LIMITED [Active] CIN = U67120MH1996PTC098105
Company & Directors' Information:- INTERNATIONAL SECURITIES LIMITED [Active] CIN = L74899DL1993PLC053034
Company & Directors' Information:- A. INTERNATIONAL PRIVATE LIMITED [Active] CIN = U51102GJ2008PTC053840
Company & Directors' Information:- B AND H SECURITIES PRIVATE LIMITED [Active] CIN = U74999MH1974PTC017380
Company & Directors' Information:- V S INTERNATIONAL PRIVATE LIMITED [Active] CIN = U85100MH1997PTC109647
Company & Directors' Information:- L N SECURITIES PVT LTD [Active] CIN = U65993WB1992PTC057302
Company & Directors' Information:- THE INDIA COMPANY PRIVATE LIMITED [Active] CIN = U74999TN1919PTC000911
Company & Directors' Information:- T. INTERNATIONAL PRIVATE LIMITED [Active] CIN = U72900DL1997PTC091049
Company & Directors' Information:- A M INTERNATIONAL PRIVATE LIMITED [Strike Off] CIN = U74899DL1995PTC066228
Company & Directors' Information:- INDIA INTERNATIONAL COMPANY PRIVATE LIMITED [Active] CIN = U51228MH1955PTC009483
Company & Directors' Information:- A M SECURITIES PRIVATE LIMITED [Active] CIN = U67120KL1997PTC011182
Company & Directors' Information:- INDIA CORPORATION PRIVATE LIMITED [Active] CIN = U65990MH1941PTC003461
Company & Directors' Information:- B H SECURITIES PRIVATE LIMITED [Active] CIN = U67120DL2003PTC120184
Company & Directors' Information:- N I SECURITIES PRIVATE LIMITED [Strike Off] CIN = U67120DL2000PTC105518
Company & Directors' Information:- V AND S INTERNATIONAL PVT LTD [Active] CIN = U74899DL1992PTC049964
Company & Directors' Information:- RUBFILA INTERNATIONAL LTD [Active] CIN = L25199KL1993PLC007018
Company & Directors' Information:- SECURITIES INTERNATIONAL LIMITED [Strike Off] CIN = U67120WB1994PLC063995
Company & Directors' Information:- S B SECURITIES PRIVATE LIMITED [Active] CIN = U67120MH1996PTC098105
Company & Directors' Information:- INTERNATIONAL SECURITIES LIMITED [Active] CIN = L74899DL1993PLC053034
Company & Directors' Information:- A. INTERNATIONAL PRIVATE LIMITED [Active] CIN = U51102GJ2008PTC053840
Company & Directors' Information:- B AND H SECURITIES PRIVATE LIMITED [Active] CIN = U74999MH1974PTC017380
Company & Directors' Information:- V S INTERNATIONAL PRIVATE LIMITED [Active] CIN = U85100MH1997PTC109647
Company & Directors' Information:- L N SECURITIES PVT LTD [Active] CIN = U65993WB1992PTC057302
Company & Directors' Information:- THE INDIA COMPANY PRIVATE LIMITED [Active] CIN = U74999TN1919PTC000911
Company & Directors' Information:- T. INTERNATIONAL PRIVATE LIMITED [Active] CIN = U72900DL1997PTC091049
Company & Directors' Information:- A M INTERNATIONAL PRIVATE LIMITED [Strike Off] CIN = U74899DL1995PTC066228
Company & Directors' Information:- INDIA INTERNATIONAL COMPANY PRIVATE LIMITED [Active] CIN = U51228MH1955PTC009483
Company & Directors' Information:- A M SECURITIES PRIVATE LIMITED [Active] CIN = U67120KL1997PTC011182
Company & Directors' Information:- INDIA CORPORATION PRIVATE LIMITED [Active] CIN = U65990MH1941PTC003461
Company & Directors' Information:- B H SECURITIES PRIVATE LIMITED [Active] CIN = U67120DL2003PTC120184
Company & Directors' Information:- N I SECURITIES PRIVATE LIMITED [Strike Off] CIN = U67120DL2000PTC105518
Appeal No. 188 of 2019
Decided On, 14 May 2019
At, SEBI Securities amp Exchange Board of India Securities Appellate Tribunal
By, THE HONOURABLE MR. JUSTICE TARUN AGARWALA
By, PRESIDING OFFICER
By, THE HONOURABLE DR. C.K.G. NAIR
By, MEMBER & THE HONOURABLE MR. M.T. JOSHI
By, JUDICIAL MEMBER
For the Appellant: M.K. Sreegesh, i/b Govind Solanke, Advocates. For the Respondents: R1, Sushant Yadav, i/b K. Ashar & Co., R2, Sagar Divekar, i/b Pratik Ingle, Advocates.
Judgment Text
Tarun Agarwala, Presiding Officer
(Oral)
1. We have heard the learned counsel for the appellant and the learned counsel for the Bombay Stock Exchange Limited and Securities and Exchange Board of India (“SEBI” for convenience). By resolution of the Board of Directors of the Company, shares were allotted to the promoters. Under Regulation 108(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, the company was required to apply before the Stock Exchange for listing of the shares within 20 days from the date of allotment. In the instant case, there was a delay of 57 days.
2. In view of the Circular of SEBI dated June 15, 2017, the Stock Exchange has imposed a fine of Rs. 11,40,000/- plus additional taxes.
3. The appellant being aggrieved by the imposition of fine filed an application before SEBI on January 01, 2019 under Regulation 113 for relaxation of the Regulation. This application is still pending.
4. Having heard the counsel for the parties and without going into the merits of the case at this stage, we find it appropriate to direct SEBI to decide the application of the appellant. We accordingly, dispose of the appeal directing SEBI to decide the applicat
(Oral)
1. We have heard the learned counsel for the appellant and the learned counsel for the Bombay Stock Exchange Limited and Securities and Exchange Board of India (“SEBI” for convenience). By resolution of the Board of Directors of the Company, shares were allotted to the promoters. Under Regulation 108(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, the company was required to apply before the Stock Exchange for listing of the shares within 20 days from the date of allotment. In the instant case, there was a delay of 57 days.
2. In view of the Circular of SEBI dated June 15, 2017, the Stock Exchange has imposed a fine of Rs. 11,40,000/- plus additional taxes.
3. The appellant being aggrieved by the imposition of fine filed an application before SEBI on January 01, 2019 under Regulation 113 for relaxation of the Regulation. This application is still pending.
4. Having heard the counsel for the parties and without going into the merits of the case at this stage, we find it appropriate to direct SEBI to decide the application of the appellant. We accordingly, dispose of the appeal directing SEBI to decide the applicat
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ion dated January 17, 2019 of the appellant with regard to the waiver of the fine within a period of 4 weeks from today. Appeal is disposed off.