sebi:EAD/KS/AA/AO/74-79/2017-18
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 11A
- s. 11
- s. 15
- s. 12
- s. 15J
- s. 15F
- s. 15D
Regulations
- Reg. 3
Parties
- KEN Infratech Limited
- Shri Sukhwinder Singh
- Shri Kuldeep Singh
- Shri Gurwinder Singh
- Shri Sukhchain Singh
- Shri Mahavir Singh
Holding
The Adjudicating Officer imposed a penalty of Rs. 1,00,00,000 jointly and severally on KEN Infratech Limited and its five directors for violating Section 12(1B) of the SEBI Act and Regulation 3 of the CIS Regulations by carrying on collective investment schemes without registration.
Full text
Page 2 of 16 India Act, 1992 (hereinafter referred to as ‘SEBI Act’), without obtaining a certificate of registration from SEBI as required under the provisions of Section 12 (1B) of the SEBI Act and the SEBI (Collective Investment Schemes) Regulations, 1999 (hereinafter referred to as ‘CIS Regulations’).
Page 3 of 16 and csankitgandhi@gmail.com, which were obtained from ROC filings made by KIL. The SCN could not be delivered to the Noticees via RPAD and hand delivery. Hence, the SCN was affixed at the last known addresses of the Noticees in terms of Rule 7(c) of the Adjudication Rules. In case of KIL, the SCN was affixed at its last available address in Amritsar and Ferozepur city.
Page 4 of 16 address in Amritsar and Ferozepur city. On the scheduled date of hearing on December 27, 2017, none of the Noticees attended the hearing.
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Source: SecMarx — sebi:EAD/KS/AA/AO/74-79/2017-18. 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.