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Order in the matter of Delisting of Equity shares of Universal Properties Limited

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Court :
SEBI

Brief :
Universal Properties Limited ("UPL/Applicant") was incorporated under the Companies Act, 1956, on 24th October, 1960 having its Registered Office at 238A, A.J.C. Bose road, 4th Floor, Kolkata 700020. The shares of the Applicant were listed on the Calcutta Stock Exchange Limited ("CSE").

Citation :
WTM/GM/CFD/DCR2/40/2020–21

WTM/GM/CFD/DCR2/40/2020–21
SECURITIES AND EXCHANGE BOARD OF INDIA

 

ORDER

UNDER SECTION 11(1) AND 11B OF THE SEBI ACT READ WITH REGULATION 25A OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF EQUITY SHARES) REGULATIONS, 2009.

In the matter of Universal Properties Limited

BACKGROUND –

1. Universal Properties Limited ("UPL/Applicant") was incorporated under the Companies Act, 1956, on 24th October, 1960 having its Registered Office at 238A, A.J.C. Bose road, 4th Floor, Kolkata 700020. The shares of the Applicant were listed on the Calcutta Stock Exchange Limited ("CSE").

2. Securities and Exchange Board of India (“SEBI”) received an application dated June 25, 2018 (“Application”) from UPL under Regulation 25A of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (“Delisting Regulations”), seeking exemption from the provisions of Regulation 27 of the Delisting Regulations, 2009. The Applicant also provided further submissions/clarifications vide letter dated October 22, 2018 and emails dated November 20, 2018, November 22, 2018, January 03, 2019, February 14, 2019, March 12, 2019, May06, 2019, June 11, 2019, June 13, 2019, June 21, 2019 and July 11, 2019, December 23, 2019, January 13, 2020, January 20, 2020, February 15, 2020 and February 18, 2020.

3. The Gist of the submissions made in the Application and the subsequent clarifications were as under,-
a) The equity shares of the company were listed on CSE on July 07, 1982.

To know more in details find the attachment file

 

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on 22 October 2020
Published in LAW
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