sebi:AO/EAD/SG-SKS/156/2018

SEBI · SEBI · 2016-12-19 · Suresh Gupta, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Adjudication proceedings initiated vide Show Cause Notice dated 09.02.2018 disposed of; Noticee held not in violation and not liable for penalty

Provisions invoked

• s. 15A
• s. 15

Regulations relied on

• SEBI (PIT) Regulations, 1992 — 13(6)

Parties

• J Kumar Infraprojects Ltd

Holding

The Noticee, J Kumar Infraprojects Ltd, did not violate Regulation 13(6) of the PIT Regulations and is not liable for monetary penalty under Section 15A(b) of the SEBI Act. The adjudication proceedings were accordingly disposed of.

Full text

Adjudication Order in respect of J Kumar Infraprojects Ltd Page 2 of 7 3. In view of the aforesaid, it was alleged that the Noticee had violated the provisions of Regulations 13(6) of PIT Regulations.

Adjudication Order in respect of J Kumar Infraprojects Ltd Page 3 of 7 Subsequent to the above, the Noticee submitted its reply vide letters dated 19.03.2018 and 24.03.2018. The submissions of the Noticee, inter-alia, read as under:

Adjudication Order in respect of J Kumar Infraprojects Ltd Page 4 of 7 FINDINGS 9. On perusal of the material available on record and giving regard to the facts and circumstances of the case, I record my findings hereunder.

Source: SecMarx — sebi:AO/EAD/SG-SKS/156/2018. 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.