sebi:EAD-3/JS/GSS/56-64/2018-19
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed on all nine Noticees for violation of Sections 11C(3) read with 11C(5) of the SEBI Act, 1992, under Section 15A(a)
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 55A
- s. 15I
- s. 15J
- s. 11C
- s. 15F
Parties
- Roofers Capital Management Ltd.
- Shri Khudiram Sounth
- Shri Hirak Nath Sounth
- Ms. Jayanti Sounth
- Shri Saurovemoy Ghosh
- Shri Sukumar Bhatacharya
- Shri Subhas Ghorai
- Shri Aniruddha Ghosal
- Shri Sudhir Chandra Bera
Holding
The Noticees violated Sections 11C(3) read with 11C(5) of the SEBI Act, 1992 by failing to comply with three summons issued by the Investigating Authority, and penalties under Section 15A(a) were imposed: Rs. 5,00,000 on Roofers Capital Management Ltd. and Rs. 2,00,000 each on the eight individual Noticees.
Full text
Adjudication Order No. EAD-3/JS/GSS/56-64/2018-19 Adjudication order in the matter of Roofers Capital Management Ltd. 2 SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (Adjudication Rules) to inquire into and adjudge the alleged violations committed by Noticees. Consequent to transfer, the proceedings are now proceeded with in terms of Order dated May 10, 2018 to inquire into and adjudge under Sections 15A (a) the alleged violations against the Noticees. SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudication Order No. EAD-3/JS/GSS/56-64/2018-19 Adjudication order in the matter of Roofers Capital Management Ltd. 3 erstwhile AO and since no response has been received from any of the Noticees till the date.
Adjudication Order No. EAD-3/JS/GSS/56-64/2018-19 Adjudication order in the matter of Roofers Capital Management Ltd. 4 Issue No. I: Whether the Noticees have violated 11C (3) read with 11C (5) of the SEBI Act, 1992?
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-3/JS/GSS/56-64/2018-19. 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.