sebi:EAD/KS/VB/AO/159/2018-19
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Facts / Headnote
Show Cause Notice disposed of without imposition of any monetary penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Parties
- Bhagwan Das Agrawal
Holding
The Adjudicating Officer held that the alleged violations of Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of the PFUTP Regulations, 2003 by the Noticee were not established, and disposed of the adjudication proceedings without imposing any monetary penalty.
Full text
Page 2 of 11 APPOINTMENT OF ADJUDICATING OFFICER 3. SEBI, vide communique dated March 22, 2017, appointed the Ms. Anita Kenkare as Adjudicating Officer under Section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "SEBI Act"), read with Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge under Section 15HA of SEBI Act, the alleged violation of Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of PFUTP Regulations by the Noticee. Pursuant to transfer of Ms.Anita Kenkare, Shri Suresh Gupta was appointed as Adjudicating Officer by the Competent Authority. Further, vide Communique dated April 19,2018 the undersigned has been appointed as the Adjudicating Officer in the instant matter.
Page 3 of 11 Bhagwan Das Agrawal Genuine Stock Brokers Private Limited 4,63,05,559 1142221 1142221 27167 114 2 7. The Noticee vide letter dated August 16, 2017 while denying the alleged violation has sought an inspection of documents. Subsequently, the adjudication proceedings were transferred to the undersigned. The Noticee was intimated about the change in Adjudication Officer vide hearing notice dated May 18, 2018. The Noticee was advised to complete the inspection of documents with the concerned documents of SEBI before May 29,2018 and was granted an opportunity of hearing on June 06, 2018. The Noticee was also granted an opportunity to submit additional submissions / documents by June 04, 2018. Vide Letter dated June 01, 2018 the Noticee sought an adjournment of Personal hearing.
Page 4 of 11 Table-1 Volume comparison Exchange : NSE Comparison of impugned 'self-trades’ with Market Count in Shilpi Cable Technologies Limited at NSE Date Impugned self trade Qty Volume NSE % of self- trade vis-à-vis Total market volume 08.04.2011 30,483 5,18,20,648 0.06% 11.04.2011 2,898 87,26,177 0.03% Total 33,381 6,05,46,825 0.06%
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Source: SecMarx — sebi:EAD/KS/VB/AO/159/2018-19. 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.