Corrigendum to Order in the matter of Rutron International Ltd
- Order No.WTM/SM/IVD/ID5/10501/2020-21
Ratio decidendi
The rule this decision rests on
An inadvertent factual error in a quasi-judicial order may be corrected by a corrigendum, which then forms part of the order and is read with it, without recalling or re-deciding the order. A noticee's admitted promoter status in the company, together with an admitted blood relationship with another person who was directly connected to other noticees, and the fact that the noticee's HUF was also a promoter, supports a reasonable conclusion that the noticee was connected to the other noticees through that relative and related group entities.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Corrigendum to Order having Reference Number WTM/SM/IVD/ID5/10430/2020- 21 dated February 15, 2021, in the matter of Rutron International Ltd.
1. SEBI had passed an Order having reference number WTM/SM/IVD/ID5/10430/2020-21 dated February 15, 2021 (for convenience “Order”) in the matter of Rutron International Ltd. Subsequently, it has been brought to my notice that certain inadvertent factual errors have crept-in in the Order. Having perused the same, I find it appropriate to emend the error accordingly as follows:
(i) In the said Order, in paragraph 17, the words “With regard to connection on the basis of common Directors, I note that one Bhavna Manish Tivadi (DIN-07227596) was a Common Director in Noticee nos. 3 and 8” shall be read as follows: “With regard to connection on the basis of common Directors, I note that one Bhavna Manish Tivadi (DIN-07227596) was a Common Director in Noticee nos. 3 and 6.”
(ii) Further, paragraph 21 in the said Order, shall be read as follows: “With regard to the contention of Noticee no. 4 that her name was included in the category of promoter and promoter group in CFL by virtue of her relationship with one Mr. Anil (admittedly her brother), it is pertinent to note that she has not disputed that she was a promoter in CFL. In fact, she has admitted that Mr. Anil is her brother who was directly connected to Noticee no. 3 and Noticee no. 8. Further, the records available before me also indicate that alongwith Noticee no. 4, the HUF of Anil was also a Promoter in CFL. Considering the aforesaid blood relationship between them, it can be reasonably concluded that the Noticee no. 4 was connected to other Noticees through her brother and other connected group entities.”
Corrigendum in the matter of Rutron International Ltd.
2. The Order dated February 15, 2021, bearing reference number WTM/SM/IVD/ID5/10430/2020-21 shall always be read with this Corrigendum.
3. A copy of this Corrigendum shall be served upon all the Noticees, all recognized stock exchanges, all depositories, all RTA’s of mutual funds, along with the copy of the Order. -Sd- DATE: FEBRUARY 22, 2021 S. K. MOHANTY PLACE: MUMBAI WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA
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