sebi:EAD-2/AO/97/2012
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Facts / Headnote
Monetary penalty of Rs. 1,00,000 imposed under Section 15A(b) of the SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15J
- s. 15I
Regulations
- Reg. 13
- Reg. 11
Holding
The Noticee violated Regulation 13(3) of the PIT Regulations by failing to disclose changes exceeding 2% in her shareholding in ITPL, and a monetary penalty of Rs. 1,00,000 under Section 15A(b) of the SEBI Act was imposed.
Full text
Page 2 of 9 Appointment of Adjudicating Officer 2. In view of the above, SEBI vide order dated March 22, 2012 initiated adjudication proceedings under Section 19 read with section 15I of the Act and rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalty by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudicating Rules’) and appointed Shri Satya Ranjan Prasad as the Adjudicating Officer (AO) to inquire into and adjudge under Section 15 A (b) of the Act for the alleged violation of the Noticee as mentioned above. Thereafter, SEBI vide order dated May 22, 2012 appointed the undersigned as the AO in the instant matter.
Page 3 of 9 the PIT Regulations. The Noticee vide her letter dated May 21, 2012 sought time to file the reply to the SCN and submitted her reply to the SCN vide letter dated June 05, 2012.
Page 4 of 9 Consideration of Issues, Evidence and Findings 8. I have carefully perused the charges made against the Noticee as 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 Regulation 13 (3) of the PIT Regulations? b. Whether the Noticee is liable for monetary penalty prescribed under Section 15 A (b) of the SEBI Act for the aforesaid violation? c. If, yes what should be the quantum of monetary
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Source: SecMarx — sebi:EAD-2/AO/97/2012. 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.