sebi:AO/EAD/SG-SKS/117/2018

SEBI · SEBI · 2016-12-14 · Suresh Gupta, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed of without penalty

Provisions invoked

• s. 15A
• s. 15
• s. 15H
• s. 15C

Parties

• Sharp Industries Limited

Holding

The adjudication proceedings initiated against Sharp Industries Limited vide SCN dated June 28, 2016 and SSCN dated January 09, 2018 were disposed of. The Noticee was held not liable for monetary penalty under Section 15C and Section 15HB of the SEBI Act.

Full text

Adjudication Order in respect of Sharp Industries Ltd Page 2 of 6 Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under the provisions of Section 15A (a) and Section 15C of the SEBI Act for the alleged violations committed by the Noticee. Pursuant to the transfer of Shri. Prasad Jagadale, the undersigned has been appointed as the Adjudicating Officer vide Order dated December 14, 2016 and the proceedings were received on February 09, 2017. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING

Adjudication Order in respect of Sharp Industries Ltd Page 3 of 6 5. In response to the Notice dated November 06, 2017, OIAE vide letter dated January 05, 2018, inter-alia, submitted that the SCORES authentication was provided to the Noticee and the e-mail communicating creation of login ID could not be retrieved due to technical reason. A copy of the said reply has been endorsed to the Noticee by OIAE.

Adjudication Order in respect of Sharp Industries Ltd Page 4 of 6 ISSUES FOR CONSIDERATION 9. After perusal of the material available on record, I have the following issues for consideration, viz.,

Source: SecMarx — sebi:AO/EAD/SG-SKS/117/2018. 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.