ADJ/SKS/ /2007
July 03, 2007
To,
M/s A.J. Finance Ltd.
No. 151, Chinswee Road,
09-08, Manhattan House,
Singapore – 169876.
Sub: Notice under Rule 4 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 in the matter of your dealings in the shares of M/s DSQ Biotech Ltd.
Ref : Notice under Rule 4 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 dated March 28th, 2007.
1.0 The undersigned has been appointed as adjudicating officer under section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘the SEBI Act’) read with rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘the said Rules’) to inquire and adjudge the alleged contraventions of section 11C (3) of the SEBI Act by you in the matter of your dealings in the shares of M/s DSQ Biotech Ltd.
2.0 A show cause notice dated January 9th, 2007 was issued to you by the undersigned whereby you were asked to explain as to why inquiry should not be held against you in terms of rule 4 of the said Rules in view of your continued failure to furnish the information as sought by the Investigating Authority vide summons dated March 8th, 2004 and letters dated April 8th, 2004 and April 21st, 2004. The said show cause was returned undelivered by Singapore Post with remark “ no such name”.
3.0 Considering the material available on record it was felt that the inquiry in the matter should be held. Accordingly, in terms of rule 4 of the said Rules, the date for appearance in the matter was fixed on April 12, 2007 and a notice dated 28th March, 2007 was issued to you informing the date and place of hearing.
4.0 You have not shown the cause and filed any reply to the said show cause notice despite expiry of the period specified therein. You have
also not appeared for personal hearing on the time, date and place fixed in the matter.
5.0 Another opportunity of personal hearing is hereby given to you under rule 4 of the said Rules and the date for appearance and producing documents or evidence in the matter has been fixed on July 20, 2007 at 11.30 A.M. at the following address:
“Securities and Exchange Board of India
SEBI Bhawan, Plot No. C- 4 A,
“G” Block, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051.”
6.0 You may appear for personal hearing before the undersigned on the above mentioned date, time and place either personally or through any authorized representative conversant with the facts of the case.
7.0 Vide Circular no. EFD/ED/Cir-1/2007 dated April 20, 2007 (available at www.sebi.gov.in), SEBI has come out with guidelines for passing of consent orders. If you wish to avail the consent process, you may apply in the prescribed form given in the said Circular. Your application should be forwarded to the address mentioned in the said Circular under intimation to the undersigned.
8.0 Please note that if you fail, neglect or refuse to appear in response to this notice the matter would be proceeded in your absence in terms of rule 4 (7) of the said Rules.
Santosh Shukla
Adjudicating Officer