sebi:AP/AO/5/2009-10
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Facts / Headnote
Adjudication proceedings against the noticee dropped
Provisions invoked
- s. 11B
- s. 15
- s. 11(3)
Holding
The Adjudicating Officer dropped the adjudication proceedings against the noticee in exercise of powers under Section 15-I (2) of the SEBI Act, 1992 read with Rule 4 (3) read with Rule 5 of the Adjudication Rules, considering the non-filing of information sought and the old age of the noticee.
Full text
Page 2 of 7 02. The then Adjudicating Officer issued a show cause notice (hereinafter referred to as "SCN") dated June 21, 2005 under Rule 4(1) of SEBI (Procedure For Holding Inquiry And Imposing Penalties By Adjudicating Officer) Rules, 1995 (hereinafter referred to as "Adjudication Rules") read with Section 15 I of the act to the noticee communicating the allegations levelled against him and calling up as to why an inquiry in terms of the said Rules should not be conducted against him. The SCN issued to the noticee returned undelivered.
Page 3 of 7 06. Having carefully perused the material available on record now I proceed to record my finding as follows, but before that, it is important to at least briefly understand the background under which information was sought from the noticee.
Page 4 of 7 said letter by January 31, 2004. The investigating authority also directed the noticee to appear before him on February 03, 2004. The said summons was sent by Registered Post with Acknowledgement Due. The following information was sought from the notice vide the said letter:
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Source: SecMarx — sebi:AP/AO/5/2009-10. 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.