sebi:EAD-5/SVKM/AO/49/2015-16
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty of Rs. 1,00,000 imposed on the Noticee under Section 15HB of the SEBI Act, 1992
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 11C(6)
- s. 11C
- s. 11C(3)
- s. 11C(5)
- s. 468
- s. 11(6)
Parties
- Shri Pramod Jain
Holding
The Adjudicating Officer held that Shri Pramod Jain made incorrect statements before the Investigating Authority in violation of Sections 11C(3), 11C(5) and 11C(6) of the SEBI Act, 1992 and imposed a monetary penalty of Rs. 1,00,000 under Section 15HB of the SEBI Act, 1992.
Full text
Adjudication Order against Shri Pramod Jain in the matter of SRG Infotech Ltd.Page 2 of 15 and subsequently deleted them either after updating the price or after part execution of the order.
Adjudication Order against Shri Pramod Jain in the matter of SRG Infotech Ltd.Page 3 of 15 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order against Shri Pramod Jain in the matter of SRG Infotech Ltd.Page 4 of 15 E) there is no history of any transaction ever in the said scrip, past or in the future ever done by me, directly or indirectly. F) there is no motive or benefit behind the alleged offense nor I have ever received any benefit directly or indirectly. G) I have never ever dealt with the Said broker not only in the said scrip or any other scrip, be it in past or future. H) The allegation fails to justify how a mere signature on bank format may lead to my culpability in the alleged offense of rigging of share prices. 6.2. The whole story of the alleged offence lies on mere signing of a bank format, there is no other iota of evidence even corroborative evidence suggests of my involvement in any such offence.”
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-5/SVKM/AO/49/2015-16. 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.