9911796707
TMI Blog2019 (1) TMI 1387X X X X Extracts X X X X X X X X Extracts X X X X ..... Mr Aditya Kumar, Advocates for R-1. O R D E R 1. Issue notice. The learned counsel appearing for respondent no.1 accepts notice. 2. The petitioner has filed the present petition, on being reflected as a defaulting director of a 'Vanishing Company' in the records of respondent no.1. 3. The petitioner states that he is a market analyst with experience spanning over f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the Company had duly declared that the petitioner had resigned as a Director on 27.07.1995. 6. Apparently, the Company had failed to comply with the Listing Agreements and had failed to make disclosures as per listing agreements and, therefore, in the year 2000, Securities and Exchange Board of India (SEBI) issued a show cause notice dated 10.01.2000 calling upon the petitioner to show ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he noticees to show cause as to why the Company should not be declared as a 'Vanishing Company'. Subsequently, by an order dated 21.10.2016, the Company was declared as a vanishing company and directions were issued to all the Directors including the petitioner to disassociate themselves in every respect from the capital market related activities; not to raise funds from the capital market; not to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er in the aforesaid order dated 21.10.2016. 13. Copy of the aforesaid order was also forwarded to the respondent no.1 as well as other stock exchanges. 14. On 24.08.2018, the learned Additional Chief Metropolitan Magistrate, Ahmedabad passed an order rejecting the complaint filed by the ROC (case no. 200068/2003) under Section 63, 68 & 628 of the Companies Act 1956. 15. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er's name as a defaulting director of a 'Vanishing Company', including from the list as published on its website. 18. However, if the respondent no.1 is of the view that there is material to indicate that the petitioner is an officer in default, it will be open for respondent no.1 to issue a separate show cause notice indicating the material on which such a view is premised and take an app ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
