sebi:EAD-3/AO/JS/VRP/24-27/2018
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Facts / Headnote
Violations found against G K Consultants Limited, CRS Traders & Exporters Pvt Ltd and Chetan Dogra; penalties imposed. Allegations against Ami V Kapasi not sustained and disposed off.
Provisions invoked
- s. 13
- s. 16
- s. 12
- s. 15J
- s. 18
- s. 23
- s. 23H
Regulations
- Reg. 58
- Reg. 199
Parties
- G K Consultants Limited
- CRS Traders & Exporters Pvt Ltd
- Ami V Kapasi
- Chetan Dogra
Holding
The Noticees G K Consultants Limited, CRS Traders & Exporters Pvt Ltd and Chetan Dogra violated Section 16 read with SEBI Notification G.S.R 219(E), Section 13 and Section 18 read with Section 2(i) of SCRA, 1956 by dealing in shares through off-market transfers without consideration, and penalties of Rs. 20,00,000, Rs. 10,00,000 and Rs. 10,00,000 respectively were imposed under Section 23H. The allegations against Noticee Ami V Kapasi were not sustained and were disposed off.
Full text
Adjudication Order in the matter of Nature Hue Chem Limited Page 2 of 17 Act, 1956 (SCRA Act, 1956) read with rule 3 of Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 2005 (Adjudication Rules) to inquire into under Sections 23H of SCRA Act, 1956 the alleged violations of Section 16 of SCRA, 1956 read with SEBI Notification G.S.R 219(E) dated March 02, 2000, Section 13 and Section 18 of SCRA, 1956 read with Section 2(i) of SCRA, 1956 in the captioned matter. Consequent to transfer, the proceedings are now continued with in terms of Order dated May 18, 2017 to inquire into and adjudge under Sections 23H of SCRA Act, 1956 the alleged violations against the Noticees.
Adjudication Order in the matter of Nature Hue Chem Limited Page 3 of 17 7. In order to conduct an inquiry as per Rule 4(3) of the Rules, the Noticees were granted an opportunity of hearing on January 07, 2016 at SEBI, Head Office at Mumbai, vide common hearing notice dated December 15, 2015 to all the Noticees. However none of the Noticees appeared for the hearing.
Adjudication Order in the matter of Nature Hue Chem Limited Page 4 of 17 personal hearing was granted on November 13, 2017 to the Noticee vide letter dated October 24, 2017 the said Notice was duly delivered to the Noticee.
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Source: SecMarx — sebi:EAD-3/AO/JS/VRP/24-27/2018. 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.