WTM/RKA/EFD/141 /2015

BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA

ORDER
Under section 11B of the Securities and Exchange Board of India Act, 1992 in the matter of
Suprapti Plastics Limited
In respect of (1) Suprapti Plastics Limited and its directors viz. (2) Mr. Ajay Surendra Tanna
and (3) Mr. Prakash Surendra Tanna
______________________________________________________________________________
1. Suprapti Plastics Limited is a company incorporated under the Companies Act, 1956 having its
registered office at Plot No W-17, MIDC, Tarapur, Boisar, District Thane, Maharashtra. It was
observed that Mr. Ajay Surendra Tanna and Mr. Prakash Surendra Tanna were the directors of
Suprapti Plastics Limited.
2.

Securities and Exchange Board of India (SEBI) vide circular no. CIR/OIAE/1/2012 dated
August 13, 2012 directed all companies whose securities are listed on stock exchanges, to obtain
SEBI Complaints Redress System (SCORES) authentication by September 14, 2012 and to take
appropriate necessary steps within seven days of receipt of complaints through SCORES, so as
to resolve the complaint within thirty days of its receipt.

3.

However, it was observed that Suprapti Plastics Limited had not obtained SCORES
authentication and it had not redressed four investor grievances pending against it. Accordingly,
SEBI sent a letter dated February 15, 2013, to the Compliance Officer of Suprapti Plastics
Limited, drawing his attention to the aforesaid Circular and advising him to resolve the pending
grievances at the earliest. The said letter was returned undelivered. As, Suprapti Plastics Limited
failed to redress the said four investor grievances which were pending against it for more than
30 days, SEBI issued Show Cause Notices (SCNs) dated March 28, 2013 and April 17, 2013 to
Suprapti Plastics Limited and its directors viz., Mr. Ajay Surendra Tanna and Mr. Prakash
Surendra Tanna, respectively calling upon them to show cause as to why suitable directions
including direction to restrain them from accessing the securities market for a specified period
should not be issued under section 11B of the SEBI Act.

4.

From the website of the Ministry of Corporate Affairs, it has been noted that Suprapti Plastics
Limited is under liquidation. The Registrar of Companies, Mumbai vide letter dated November
17, 2014, has, inter alia, confirmed that Suprapti Plastics Limited is Under Liquidation and has
been ordered to be wound up by an Order dated July 5, 2012 in Company Petition 113 of 2010.
No further communication has been received from the Official Liquidator regarding setting

In the matter of Suprapti Plastics Limited

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aside of the said order for winding up. In view of the same, the said four investor complaints
have been treated as closed and disposed of in SCORES.
5.

Considering the above facts and circumstances of the case, I am of the view that there is no
need to issue any direction under section 11B of the SEBI Act, 1992, as contemplated in the
SCNs issued in the matter. The SCNs are accordingly disposed of.

Sd/Date: October 15th, 2015

Place: Mumbai

In the matter of Suprapti Plastics Limited

RAJEEV KUMAR AGARWAL

WHOLE TIME MEMBER
SECURITIES AND EXCHANGE BOARD OF INDIA

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