Order against Deepak Fertlisers And Petrochemicals Corporation Ltd

SECURITIES AND EXCHANGE BOARD OF INDIA

ORDER

IN THE MATTER OF CANCELLATION OF CERTIFICATE OF REGISTRATION OF DEEPAK FERTLISERS AND PETROCHEMICALS CORPORATION LTD AS CATEGORY II SHARE TRANSFER AGENT (INHOUSE).

WTM/MIRSD/38302/2005

1.      Deepak Fertilisers And Petrochemicals Corporation Ltd (hereinafter referred to as Deepak Fertlisers) is a Cat II Share Transfer Agent (Inhouse) registered with the Securities and Exchange Board of India (hereinafter referred to as “SEBI”) under Certificate of Registration No. INR000001807 valid till October 15, 2006.

2.      Deepak Fertilisers has surrendered its Certificate of Registration as Share Transfer Agent.

3.      Deepak Fertilisers has submitted representation dated January 28, 2005 requesting to dispense with the procedure mentioned in regulation 16 of the SEBI (Procedure for Holding Enquiry by Enquiry Officer and imposing Penalty) Regulations, 2002 (hereinafter referred to as “Enquiry Regulations”). I have considered the representation, facts of the case and other material on record and I dispense with the procedure laid down in regulation 16 of the Enquiry Regulations.

4.      It is noted Deepak Fertilisers has transferred its client accounts to another registered RTI / STA i.e. Sharepro Services (India) Private Ltd with Registration No. INR000001476.

5.      In view of the forgoing and in exercise of powers conferred upon me under Section 19 of the SEBI Act read with Regulation 16(5) of the Enquiry Regulations, I hereby direct that the surrender of Certificate of Registration of Deepak Fertilisers be accepted and the said Certificate be cancelled w.e.f. 04-04-2005.

6.      Notwithstanding such cancellation the said Deepak Fertilisers shall continue to be liable to meet all the liabilities and obligations (including liability for monetary penalty, if any) incurred with respect of violations, if any, of the SEBI Act and the Rules and Regulations made there under, committed before such cancellation.