sebi:EAD/BJD/NJMR/88/2017-18
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Facts / Headnote
Violation established; penalty of Rs 3,00,000 imposed under Section 15HB of SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 12
- s. 15H
- s. 15J
Regulations
- Reg. 9
- Reg. 26
Parties
- Shreepati Holdings & Finance Pvt., Ltd.
Holding
The Noticee violated SEBI AML/CFT Circulars dated December 31, 2010, January 24, 2013 and March 12, 2014 and Clauses A(2) and A(5) of the Code of Conduct read with Regulation 9(f) and Regulations 26(xv), (xvi) and (xx) of Stock Brokers Regulations, and a monetary penalty of Rs 3,00,000 under Section 15HB of SEBI Act was imposed.
Full text
Adjudication Order in the matter of Shreepati Holdings & Finance Pvt., Ltd., Page 2 of 17 2. The undersigned has been appointed as Adjudicating Officer under Section 19 read with Section 15-I of SEBI Act and Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as "the Adjudication Rules") vide order dated June 9, 2017 to inquire into and adjudge the violations committed by the Noticee, under Section 15 HB of the SEBI Act, 1992.
Adjudication Order in the matter of Shreepati Holdings & Finance Pvt., Ltd., Page 3 of 17 Noticee also submitted that it has no staff and systems to check the alleged violations made in the SCN and also sought an opportunity of personal hearing.
Adjudication Order in the matter of Shreepati Holdings & Finance Pvt., Ltd., Page 4 of 17 13. Vide email dated October 4, 2017, the Noticee was directed to submit its reply to the SCN by October 25, 2017. As there was no reply received from the Noticee, vide email dated November 6, 2017 the Noticee was directed to submit its reply by November 9, 2017, failing which the matter shall be proceeded ex- parte.
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Source: SecMarx — sebi:EAD/BJD/NJMR/88/2017-18. 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.