sebi:ACL/VC/AO/DRK/AS/EAD-3/128/09-30/2010
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Facts / Headnote
Penalty imposed on the noticee
Provisions invoked
- s. 15
- s. 11B
- s. 15H
- s. 15J
Regulations
- Reg. 3
Parties
- Shri Vithal Patil, Director, Mastermind Mercantile Co-op Ltd.
Holding
The noticee, Shri Vithal Patil, Director of Mastermind Mercantile Co-op Ltd., is held to have violated Regulation 3(a), 3(c), 4(1), 4(2)(a) and 4(2)(e) of the SEBI PFUTP Regulations, 2003 and a penalty of Rs. 1,00,000/- is imposed on him under Section 15HA of the SEBI Act, 1992.
Full text
Page 2 of 17 ACL, KBL, and SIL till the investigations are completed and the same was subsequently confirmed by SEBI vide order dated February 18, 2005. Shri Vithal Patil, Director of Mastermind Mercantile Co-op Ltd. (hereinafter referred to as the noticee) was also one of the entities against whom the
Page 3 of 17 2003). In the said annual report it was stated that the company was planning to come up with some expansion plans and since SEBI had passed an order against RKB barring him from accessing the capital market for 3 years, RKB has resigned from the Board of Directors to ensure smooth going of the process of expansion. As per the records available with SEBI, the Board of Directors for the year 2003 - 04, were:
Page 4 of 17 December 31, 2003 was Rs. 161.55 million, the same for the quarter ended March 31, 2004 and June 30, 2004 were Rs. 52.11 million and Rs. 49.39 million, respectively. The net profit for the quarter ended March 31, 2004 and June 30, 2004 were Rs. 3.68 million and Rs. 4.76 million, in comparison to the quarter ended December 31, 2003, which stood at Rs. 47.1 million.
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Source: SecMarx — sebi:ACL/VC/AO/DRK/AS/EAD-3/128/09-30/2010. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.