sebi:AO/SBM/EAD-3/101/2017
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Facts / Headnote
Adjudication proceedings initiated vide SCN dated July 03, 2014 disposed of without penalty
Provisions invoked
- s. 15A
Regulations
- Reg. 7
- Reg. 7(1)
- Reg. 11
- Reg. 2
- Reg. 7(2)
Parties
- Ms. Asha Ratan Khiara
Holding
The Adjudicating Officer disposed of the adjudication proceedings against Ms. Asha Ratan Khiara, holding that the allegation that her failure to disclose sale of 1,00,000 shares of CFL on September 15, 2008 violated Regulation 7(1A) read with Regulation 7(2) of the SAST Regulations, 1997 is not tenable.
Full text
Page 2 of 8 was observed that Ms. Asha Ratan Khiara (hereinafter referred to as the “Noticee”) had failed to make the necessary disclosure under Regulation 7 (1A) r/w Regulation 7 (2) of the SAST Regulations, 1997 w.r.t her transaction involving sale of 1 lakh shares of CFL on September 15, 2008. In view of the above, it was alleged that the Noticee was liable for imposition of penalty under section 15A (b) of the SEBI Act.
Page 3 of 8 4. Show Cause Notice No. A&E/DRK/CS/19078/2014 dated July 03, 2014 (hereinafter referred to as “SCN”) was issued to the Noticee under Rule 4(1) of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as “Adjudication Rules”) to show cause as to why an inquiry should not be initiated and
Page 4 of 8 available on record. However, Noticee has neither appeared for the hearing on the stipulated date nor furnished her reply to the SCN. In view of the above, I am compelled to proceed further in the matter on the basis of material/facts on record. CONSIDERATION OF ISSUES, EVIDENCE AND FINDINGS
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Source: SecMarx — sebi:AO/SBM/EAD-3/101/2017. 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.