sebi:EAD/PM/NR2020-21/9090

SEBI · SEBI · 2018-07-02 · Prasanta Mahapatra, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings abated as infructuous due to death of the Noticee

Provisions invoked

• s. 15A
• s. 15
• s. 19
• s. 15I

Regulations

• Reg. 13

Parties

• Champalal S Khimavat

Holding

The adjudication proceedings against Champalal S Khimavat are abated without going into the merits of the case, as the Noticee passed away on April 28, 2015, rendering the matter infructuous.

Full text

Adjudication Order in respect of Champalal S Khimavat in the matter of Kanchan International Ltd., Page 2 of 3 respect of change in his shareholding exceeding 25,000 shares, under the provisions of Regulation 13 (4A) read with Regulation 13 (5) of SEBI (Prohibition of Insider Trading) Regulations, 1992.

Adjudication Order in respect of Champalal S Khimavat in the matter of Kanchan International Ltd., Page 3 of 3 who is no more alive to face the penalty, the proceedings against him are liable to be abated”.

APPOINTMENT OF ADJUDICATING OFFICER 2. Accordingly, SEBI initiated Adjudication proceedings against the Noticee and appointed the undersigned as the Adjudicating Officer vide order dated July 2, 2018 under Section 19 of the SEBI Act, 1992 read with Section 15I of the SEBI Act and Rule 3 of (SEBI Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to “Adjudication Rules”) to inquire into and adjudge the alleged violations of the provisions of SEBI (SAST) Regulations, 1997 & 2011 and SEBI (PIT) Regulations, 1992 committed by the Noticee, under Section 15A(b) of SEBI Act..

Source: SecMarx — sebi:EAD/PM/NR2020-21/9090. 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.