sebi:BM/AO-91/2011
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Facts / Headnote
Proceedings disposed of without imposition of penalty
Provisions invoked
- s. 15A
- s. 15
- s. 15J
- s. 12
Parties
- Shri Amar Bomble
Holding
The Adjudicating Officer held that the allegation of non-compliance with summonses issued by SEBI under sections 11C(2), 11C(3) and 11C(5) of the SEBI Act was not conclusively established against the Noticee, and consequently no penalty under section 15A(a) was imposed.
Full text
Page 2 of 6 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 6 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING 5. Show Cause Notice (EAD-6/BM/JR/23160/2010) 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 him and penalty be not imposed under section 15A(a) of SEBI Act for his failure to comply with the provisions of sections 11C (2) and 11C (3) of SEBI Act.
Page 4 of 6 CONSIDERATION OF ISSUES AND FINDINGS 8. It has been alleged that the Noticee failed to comply with the summonses issued by the IA under sections 11C (2), 11C (3) and 11C (5) of SEBI Act and in view of the same the Noticee is liable to penalty prescribed under Section 15A(a) of the SEBI Act.
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Source: SecMarx — sebi:BM/AO-91/2011. 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.