sebi:BS/AO-74/2008
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Disposed of as infructuous - no penalty imposed
Provisions invoked
- s. 15H
Parties
- Smt. Umah Agarwal
Holding
The adjudication proceedings against the noticee for alleged non-compliance with SEBI's ex-parte order dated August 19, 2005 have become infructuous and are disposed of accordingly without imposition of penalty.
Full text
2 also considering facts of the case, it was decided to conduct an inquiry in the matter and the noticee was advised to attend the inquiry scheduled on February 3, 2006.
3 8. By an ex-parte order dated 19.08.2005, DLF was prohibited from dealing in the scrip of BFSL and the sellers were directed to deposit the proceeds of the sale transactions in an escrow account with a nationalized bank. It was observed in the order that “any person aggrieved by this interim ex- parte order may approach SEBI within 30 days of this order showing cause for reconsideration of the directions.”
4 4) What will be the conditions for opening /operating the Escrow Account. 5) On what basis the amount in Escrow account will be released.
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Source: SecMarx — sebi:BS/AO-74/2008. 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.