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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

    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

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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.
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