sebi:EAD/BJD/NJMR/162-163/2017-18
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Facts / Headnote
Penalty imposed on both Noticees
Provisions invoked
- s. 15A
- s. 15
- s. 15I
- s. 15J
Regulations
- Reg. 13
- Reg. 199
- Reg. 29
Parties
- Mayank Lakhani
- Suman Lakhani
Holding
The Noticees violated Regulation 13(3), 13(4A) read with 13(5) of SEBI (PIT) Regulations, 1992 and Regulation 29(2) read with 29(3) of SEBI (SAST) Regulations, 2011 and are liable under Section 15A(b) of SEBI Act. A penalty of Rs. 2,00,000 each, totalling Rs. 4,00,000, was imposed on Mayank Lakhani and Suman Lakhani.
Full text
Adjudication Order in the matter of Lakhani India Ltd., Page 2 of 12 2. SEBI initiated Adjudication Proceedings against the Noticees and appointed the undersigned as the Adjudicating Officer vide Order dated May 18, 2017 (communicated vide Order dated November 7, 2017) under Section 15I of the SEBI Act and Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as “Adjudicating Rules”) to inquire into and adjudge under Section 15 A (b) of the SEBI Act for the alleged violation of provisions SEBI (PIT) Regulations and SEBI (SAST) Regulations.
Adjudication Order in the matter of Lakhani India Ltd., Page 3 of 12 5. The SCNs sent to the Noticees at the four addresses in Faridabad and New Delhi by Speed Post acknowledgement due, returned undelivered with the remarks “left”. The SCNs sent by digitally signed emails bounced.
Adjudication Order in the matter of Lakhani India Ltd., Page 4 of 12 a. Whether the Noticees have violated the provisions of Regulation 13 (3), 13 (4A) read with Regulation 13 (5) of SEBI (PIT) Regulations and Regulation 29 (2) read with Regulation 29 (3) of SEBI (SAST) Regulations, 2011?
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Source: SecMarx — sebi:EAD/BJD/NJMR/162-163/2017-18. 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.