sebi:BM/AO-40/2010
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Facts / Headnote
Proceedings disposed of without imposition of penalty under Section 15HA of SEBI Act; charges held not established
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 4(2)(a)
Parties
- Bakra Pratisthan Ltd.
Holding
The Adjudicating Officer held that the allegation that Bakra Pratisthan Ltd. violated regulations 4(2)(a) and 4(2)(e) of PFUTP was not established and disposed of the proceedings without imposing any penalty under Section 15HA of the SEBI Act.
Full text
Page 2 of 9 as “BPC”), Ashok Kumar Kayan (hereinafter referred to as “AKK”), Ahilya Commercial Pvt. Ltd. (hereinafter referred to as “ACPL”) and Rajendra Prasad Shah (hereinafter referred to as “RPS”), constituted 85% of the volume in the scrip of BPL. The details of the said transactions are as follows:
Page 3 of 9 APPOINTMENT OF ADJUDICATING OFFICER 5. Shri. Piyoosh Gupta was appointed as Adjudicating Officer vide order dated February 18, 2007 under section 15 I of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “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 provisions of SEBI Act and PFUTP committed by the Noticee.
Page 4 of 9 • I submit that I have never carried out any of my business activity from Room No. D-511, Bagree Market, 71, B.R.B. Basu Road, Kolkata – 700001 at any point of time in my life. • I submit that I have never claimed to have done any sort of business activity from D-511, Bagree Market, 71, B.R.B. Basu Road, Kolkata – 700001 at any point of time in my life. • I submit that I have no connection whatsoever with Bagree Market, 71, B.R.B. Basu Road, Kolkata – 700001 other then that our RTA M/s Niche Technologies Pvt. Ltd. is having their office at that place. • I submit that our company has never shared any office space with M/s Niche Technologies Pvt. Ltd. • I submit that there is no role played by me or by anybody from our company in respect of price movement of our company M/s Bakra Pratisthan Ltd. • I submit that I have never bought or sold any share of M/s Bakra Pratisthan Ltd. in my life. • I submit that I have neither told nor persuaded any directors of different companies as mentioned in the notice for undertaking any transaction in the scrip of M/s Bakra Pratisthan Ltd. • I submit that I have neither told nor persuaded any for undertaking any transaction in the scrip of M/s Bakra Pratisthan Ltd. • I submit that I have never undertaken or caused to have undertaken any transaction directly or indirectly which might have generated any benefit to me measurable in monetary sense or otherwise.
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Source: SecMarx — sebi:BM/AO-40/2010. 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.