sebi:EAD-2/AO/11/2012
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Monetary penalty of Rs. 2,00,000 imposed under Section 15HA of the SEBI Act for violation of Regulations 4(2)(a), (b) and (g) of PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 5
Holding
The Noticee violated Regulations 4(2)(a), (b) and (g) of the PFUTP Regulations by executing synchronized structured trades and is liable to a monetary penalty of Rs. 2,00,000 under Section 15HA of the SEBI Act.
Full text
Page 2 of 9 Practice relating to Securities Markets) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’).
Page 3 of 9 structured deals with Mr. Rajesh Kumar violated the aforesaid provisions of PFUTP Regulations. 5. The SCN was sent through Registered Post Ack. Due and has been received by the Noticee as the acknowledgment of the same is available on record. The Noticee failed to reply to the SCN. In the absence of any reply to the SCN, the AO issued the hearing notice to the Noticee asking her to appear before him on January 27, 2011. The Noticee failed to appear on the said date. The AO issued another letter dated September 14, 2011 to the Noticee intimating that SEBI had come out with guidelines for passing of consent order. In case, she wishes to avail consent process, she may apply in the prescribed form. However, the said letter returned undelivered. Thereafter, I issued a hearing notice dated January 11, 2012 asking her to appear before me on February 06, 2012. The said hearing notice was affixed at the last known address of the Noticee. However, the Noticee failed to appear before me on said date.
Page 4 of 9 c) If so, what should be the monetary penalty that can be imposed taking into consideration the factors mentioned in Section 15J of Act?
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:EAD-2/AO/11/2012. 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.