sebi:BM/AO-100/2011
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Facts / Headnote
Penalty of Rs. 10,00,000 imposed under section 15A(a) of SEBI Act for violation of sections 11C(2), 11C(3) and 11C(5)
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 12
Parties
- Chetna Patel
Holding
The Noticee violated sections 11C(2), 11C(3) and 11C(5) of the SEBI Act by failing to comply with three summonses issued by the Investigating Authority. She is liable to monetary penalty of Rs. 10,00,000 under section 15A(a) of the SEBI Act.
Full text
Page 2 of 9 2. During September 01, 2008 to February 10, 2009 (over a period of 107 trading days), the total volume in RTS was 71,19,555 shares and the average daily volume was 66,537 shares. On February 11, 2009 the scrip opened at `295, touched a high of `305.50, low of `285.50 and closed at `292.75. On February 11, 2009, the traded volume in the shares of RTS was 15,58,641. Hence, the total traded volume during the period September 01, 2008 to February 11, 2009 was 86,78,196.
Page 3 of 9 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 5. Show Cause Notice (EAD-6/BM/JR/23162/2010) dated October 12, 2010 was issued to the Noticee through hand delivery under rule 4(1) of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 to show cause as to why an inquiry should not be initiated against her and penalty be not imposed under section 15A(a) of SEBI Act for her failure to comply with the provisions of sections 11C (2) 11C (3) and 11c(5) of SEBI Act.
Page 4 of 9 and in view of the same the Noticee is liable to penalty prescribed under Section ,15A (a) of the SEBI Act. 8. The issues that arise for consideration in the present case are: a. Whether the Noticee had not complied with the provisions of sections 11C (2), 11C (3) and 11C (5) of SEBI Act? b. Does the non-compliance, if any, attract monetary penalty under section 15A (a) of SEBI Act? c. If so, what would be the monetary penalty that can be imposed taking into consideration the factors mentioned in section 15J of SEBI Act?
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Source: SecMarx — sebi:BM/AO-100/2011. 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.