sebi:EAD-2/AO/109/2012

SEBI · SEBI · 2012-01-04 · P K Kuriachen, Adjudicating Officer

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Facts / Headnote

Penalty of Rs. 4,00,000 imposed under Section 15HA of the SEBI Act

Provisions invoked

• s. 15
• s. 15H
• s. 15J

Regulations

• Reg. 4

Holding

The Noticee violated Regulations 4(2)(a), (b) and (g) of the PFUTP Regulations and was held liable for penalty under Section 15HA of the SEBI Act. A monetary penalty of Rs. 4,00,000 was imposed on the Noticee.

Full text

Page 2 of 8 Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the Adjudication Rules) to inquire into and adjudge under Section 15HA of the SEBI Act, 1992 for the alleged violation of the above mentioned provisions of PFUTP Regulations by the Noticee. SEBI vide Order dated January 04, 2012 appointed the undersigned as AO in the instant matter.

Page 3 of 8 Consideration of Issues, Evidence and Findings 8. I have carefully perused the charges against the Noticee mentioned in the SCN and the documents available on record. In the instant matter the following issues arise for consideration and determination: a) Whether the Noticee has violated the provisions of Regulations 4 (2) (a), (b) and (g) of PFUTP Regulations? b) Do the violations, if any, on the part of the Noticee attract any monetary penalty under Section 15HA of the SEBI Act? c) If so, what should be the monetary penalty that can be imposed taking into consideration the factors mentioned in Section 15J of Act?

Page 4 of 8 executed in multiples of 2700 shares each and executed between 14:34:53 and 14:41:40. The details of the trades of the Noticee executed on July 21, 2008 are provided below in a tabular form:

Source: SecMarx — sebi:EAD-2/AO/109/2012. 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.