sebi:BS/AO-10/2007
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed on the noticee
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
Parties
- Shri Sachin Patil
Holding
Shri Sachin Patil was found to have failed to furnish information sought by SEBI's Investigating Authority in response to summons/letters, and a penalty of Rupees Two Lakhs (Rs. 2,00,000) under Section 15 A (a) of the SEBI Act, 1992 was imposed on him for failure to provide necessary information to SEBI.
Full text
- - 2 5. In the interest of justice, the noticee was granted another opportunity of hearing on March 28, 2007, however, the noticee again failed to attend the hearing Scheduled on March 28, 2007.
- - 3 c. The reasons for buying the shares of a company which has continuously shown a dismal performance over a period of time, at a high price which ranged from Rs.85 to Rs.94. d. The overall gains or loss incurred in these transactions. e. Whether you are still holding the shares of this company? If yes, details thereof. f. Details of entering into any off market transactions in the scrip. When, with whom and for how many shares? g. The demat account statement for the period from 1st January 2004 to 30th September, 2004.
- - 4 required at that stage of inquiry and providing information would be considered as compliance of summons. It is noted from the facts available on record that the said summons was received by the noticee. However no reply is seen to have been received from the noticee.
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Source: SecMarx — sebi:BS/AO-10/2007. 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.