sebi:BM/AO-3/2010
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Facts / Headnote
Alleged violation of PFUTP Regulations not established; matter disposed of.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 200
Parties
- Shri Vikas Narnavar
Holding
The alleged violation of the provisions of PFUTP Regulations by the Noticee as specified in the SCN dated April 28, 2008, does not stand established, and the matter is accordingly disposed of.
Full text
Page 2 of 10 September 01, 2005 and closed at Rs.1.77 on September 30, 2005. A substantial variation in the daily volumes was also observed with the lowest volume on July 01, 2005, when only one share was traded and highest being on August 26, 2005 when 1,36,70,180 shares were traded.
Page 3 of 10 APPOINTMENT OF ADJUDICATING OFFICER 4. Shri. Piyoosh Gupta was appointed as Adjudicating Officer vide order dated September 17, 2007 under section 15 I of SEBI Act read with rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge the alleged violations of SEBI Act committed by the Noticee.
Page 4 of 10 with the SCN. The Noticee replied to the SCN vide letter dated September 9, 2008 stating, inter alia, the following:
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Source: SecMarx — sebi:BM/AO-3/2010. 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.