sebi:EAD-2/SS/AKS/29/51-62/2018-19
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Facts / Headnote
Penalty of Rs. 1,00,00,000 jointly and severally imposed on Sumangal Industries Limited and 9 directors/promoters (Noticees 1,2,3,5,7-12) for non-compliance of SEBI order dated July 09, 2013; SCNs against Noticee No.4 and Noticee No.6 disposed of without penalty.
Provisions invoked
- s. 11A
- s. 24
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 15F
Regulations
- Reg. 15
Parties
- Sumangal Industries Limited
- Mr. Subrata Adhikary
- Mr. Sajal Bhattacharya
- Mr. Kaushik Roy
- Mr. Indushekhar Chakraboty
- Mr. Soumen Ghosh
- Ms. Madhumita Adhikary
- Mr. Somnath Adhikary
- Mr. Gopal Chandra Adhikary
- Ms. Sarbani Adhikary
- Mr. Astick Kumar Roy
- Ms. Debika Adhikary
Holding
Noticees 1, 2, 3, 5 and 7 to 12 failed to comply with SEBI's July 09, 2013 direction to wind up collective investment schemes, refund investors and file winding-up report, and are liable to Rs.1 crore penalty under Section 15HB jointly and severally; proceedings against Noticees 4 and 6 do not survive.
Full text
______________________________________________________________________________________ Adjudication Order in respect of Sumangal Industries Limited (File No.: EAD-2/SS/AKS/29/51-62/2018-19) Page 2 of 16 73 of the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999, hereby issue the following directions:
______________________________________________________________________________________ Adjudication Order in respect of Sumangal Industries Limited (File No.: EAD-2/SS/AKS/29/51-62/2018-19) Page 3 of 16
______________________________________________________________________________________ Adjudication Order in respect of Sumangal Industries Limited (File No.: EAD-2/SS/AKS/29/51-62/2018-19) Page 4 of 16
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Source: SecMarx — sebi:EAD-2/SS/AKS/29/51-62/2018-19. 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.