sebi:BM/AO-47/2012
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Facts / Headnote
Noticee absolved of all charges; no monetary penalty imposed; case disposed of.
Provisions invoked
- s. 15
- s. 12
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Shivprasad Shrivastav
Holding
The charges of violation of Section 12A(a), (b) and (c) of the SEBI Act and Regulation 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(f) of the PFUTP Regulations against Shivprasad Shrivastav as a director of Praneta Realty Pvt. Ltd. were not established, and he was absolved of all charges with no monetary penalty imposed.
Full text
Page 2 of 5 2. In view of the above it was alleged that, Shivprasad Shrivastav (hereinafter referred to as 'the Noticee'), as a director of Praneta Realty Pvt. Ltd., a company alleged to be a PAC, through the above actions violated Section 12 A (a), (b) and (c) of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as 'SEBI Act') and Regulation 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(f) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulation, 2003 (hereinafter referred to as ‘PFUTP Regulation’). The above violations make the Noticee liable for monetary penalty under Section 15 HA of the SEBI Act.
Page 3 of 5 The Noticee was not a director of any of the companies named in the SCN during the investigation period, other than Sovotex Textiles Pvt. Ltd., a promoter group company of BoR. The Noticee was appointed as Director of Praneta Realty Pvt. Ltd. after the investigation period.
Page 4 of 5 (b) use or employ, in connection with issue, purchase or sale of any security listed or proposed to be listed in a recognized stock exchange, any manipulative or deceptive device or contrivance in contravention of the provisions of the Act or the rules or the regulations made thereunder;
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Source: SecMarx — sebi:BM/AO-47/2012. 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.