sebi:AO/SBM/EAD-1/314/2018
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Facts / Headnote
Penalty imposed on the Noticee for failure to comply with summons
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 19
- s. 11(3)
- s. 12
- s. 15J
- s. 11C(6)
- s. 11C
- s. 11C(5)
Parties
- Sunil Kumar Mehta (Prop. M/s. Share Shoppe)
Holding
The Noticee violated Section 11(3) r/w Section 11C(5) of the SEBI Act by failing to comply with the summons dated August 4, 2004, and is liable to a penalty of Rs 1,50,000 under Section 15A(a) of the SEBI Act.
Full text
investigations into the trading/dealings in the scrip of PIL during the period from August 23, 2000 to September 26, 2000 (hereinafter referred to as ‘Investigation Period’). Accordingly, the trading pattern in the scrip of PIL for Settlement No 2000035N to 2000039 N at NSE and Settlement no. 22 to 27 at BSE were examined during the course of investigation.
also observed that out of 13,210 shares sold by Shitji Enterprises, only 1700 shares of PIL were delivered and the remaining shares that could not be delivered were auctioned at BSE. The investigations brought out that the proprietor of Shitji Enterprises is Ms Anjana Mehta, who is the spouse of the Noticee. It was further observed that both Shitji Enterprises and Share Shoppe shared common address i.e E-431, Bhupalpura, Udaipur, Rajasthan.
SHOW CAUSE NOTICE, HEARING AND REPLY 6. Show Cause Notice ref. AO/5612/2010 dated January 12, 2010 (hereafter referred to as 'SCN') was issued to the Noticee in terms of the provisions of Rule 4 of the Adjudication Rules requiring the Noticee to show cause as to why an inquiry should not be held against him and why penalty, if any, should not be imposed on him under the provisions of section 15A(a) of the SEBI Act.
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Source: SecMarx — sebi:AO/SBM/EAD-1/314/2018. 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.