sebi:EAD-5/SVKM/RGA/AO/18/2015-16
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15I
- s. 15J
- s. 11C(6)
- s. 11C
- s. 12
- s. 11C(2)
Parties
- Vipul Bhagwandas Shah
Holding
The Noticee violated sections 11C(2) and 11C(3) of the SEBI Act, 1992 by failing to furnish information and documents sought by summons, and was liable for monetary penalty under section 15A(a). A monetary penalty of Rs. 6,00,000 was imposed on the Noticee.
Full text
Adjudication Order in respect of Vipul Bhagwandas Shah in the matter of Maharashtra Polybutenes Ltd. August 31, 2015 Page 2 of 13 in the volumes traded and price of the scrip without any change in the economic fundamentals of the company. A total of 53,51,932 shares were traded and the price increased from ` 53.35 to ` 79.95 during the relevant period.
Adjudication Order in respect of Vipul Bhagwandas Shah in the matter of Maharashtra Polybutenes Ltd. August 31, 2015 Page 3 of 13 f) Any correspondence/disclosure/letter with MPL during the year 2009. g) Copy of contract notes received from the broker for the scrip of MPL. h) Details of family members / dependent / HUF / proprietorship/in the capacity of authorized person who have traded in MPL.
Adjudication Order in respect of Vipul Bhagwandas Shah in the matter of Maharashtra Polybutenes Ltd. August 31, 2015 Page 4 of 13 section 15I of SEBI Act, 1992 to show cause as to why an inquiry should not be initiated and penalty be not imposed under section 15A(a) of SEBI Act, 1992 for the violations specified in the SCN. The SCN was delivered to and acknowledged by the Noticee. However, the Noticee did not file any reply to the SCN. Vide notice dated January 02, 2015, an opportunity of hearing was granted to the Noticee on January 28, 2015. The Notice was returned undelivered with the remark 'door closed'. Another opportunity of hearing was granted to the Noticee on June 29,
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Source: SecMarx — sebi:EAD-5/SVKM/RGA/AO/18/2015-16. 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.