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2015 (7) TMI 579 - AT - Companies LawPenalty u/s 15H(ii) of SEBI Act, 1992 - Violation of Regulation 14(1) of SAST Regulations, 1997 - Failure to make public announcement of offer within stipulated time - Serving of notice by speed post - Held that:- Learned counsel for respondent stated that speed post is not one of modes as per Regulation 3 of these Regulations, but vehemently argued that service of notices on appellant has been proper and speed post is advantageous mode of transmission, since same can be tracked and that service of notice on appellant was at his residence, which has been acknowledged by appellant or his authorised agent and proof of service of all notices is available with respondent and hence appellant cannot deny that notices were not received by him. As per Regulation 3(b) of Manner of Service of Summons and Notices issued by Board Amendment Regulations, 2007 (MSSNB Regulations 2007), transmitting a copy of notices by registered post with acknowledgement due, addressed to that person or his duly authorised agent, or by speed post or by such courier service, as may be approved by the Board or by any other means of transmission of documents including Fax message or electronic mail service, which affords a record of delivery, is a proper service and hence contention of appellant that he did not received copies of any of the notices, in connection with the case, is not acceptable. - Decided against the appellant.
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