Cancellation of certificate of registration of Dynamic Superways

SECURITIES AND EXCHANGE BOARD OF INDIA

ORDER

IN THE MATTER OF CANCELLATION OF CERTIFICATE OF REGISTRATION OF DYNAMIC SUPERWAYS & EXPORTS LTD AS CATEGORY I REGISTRAR TO AN ISSUE/SHARE TRANSFER AGENT (RTI/STA).

WTM/MIRSD/29741/2004

1. Dynamic Superways & Exports Ltd (hereinafter referred to as Dynamic Superways) is a Cat I RTI/STA registered with the Securities and Exchange Board of India (hereinafter referred to as "SEBI") under Certificate of Registration No. INR000000494 valid till September 30, 2006.

 

2. Dynamic Superways has surrendered its Certificate of Registration as RTI/STA.

 

3. Dynamic Superways has submitted representation dated November 25, 2004 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 Dynamic Superways has transferred its client accounts to another registered RTI / STA i.e. Sharex Dynamic (India) Private Ltd with Registration No. INR000002102.

 

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 Dynamic Superways be accepted and the said Certificate be cancelled w.e.f. 29-12-2004.

 

6. Notwithstanding such cancellation the said Dynamic Superways 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.