sebi:AO/SG-VS/EAD/36/2017
Facts / Headnote
Adjudication proceedings initiated vide Show Cause Notice dated September 23, 2013 disposed of without penalty
Provisions invoked
- s. 15H
- s. 15I
- s. 15C
Parties
- M/s Magnum Trust Limited
Holding
The Adjudicating Officer held that M/s Magnum Trust Limited had not violated Section 15C of the SEBI Act, 1992 and was not liable for monetary penalty under that section, and accordingly disposed of the adjudication proceedings.
Full text
Adjudication Order in respect of M/s Magnum Trust Limited Page 2 of 8 submit the details to SEBI which were required to be furnished in terms of the said Circular.
Adjudication Order in respect of M/s Magnum Trust Limited Page 3 of 8 5. Shri Praveen Trivedi was appointed as the Adjudicating Officer vide order dated August 22, 2012 to inquire and adjudge under Section 15C of the SEBI Act, 1992, the alleged violation committed by the Noticee. Subsequent to the transfer of Shri Praveen Trivedi, Shri Jayanta Jash was appointed as Adjudicating Officer vide Order dated December 18, 2013. Further, upon transfer of Shri Jayanta Jash, the undersigned was appointed as Adjudicating Officer vide Order dated June 22, 2015.
Adjudication Order in respect of M/s Magnum Trust Limited Page 4 of 8 Local Office of SEBI and copies through Registered post. However, Chandigarh Local Office of SEBI could not deliver (by hand or through affixture) the notice of hearing dated January 12, 2015 at any of the abovementioned two addresses of the Noticee and the same were returned undelivered. The copy sent through registered post to the first address was also returned undelivered. However, the notice sent to the second address was delivered. The acknowledgement from department of posts is on record. The Noticee neither appeared for hearing nor was any reply received from it.
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Source: SecMarx — sebi:AO/SG-VS/EAD/36/2017. 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.