sebi:EAD-6/PM-AB/47/2018-19
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Monetary penalty of Rs. 25,00,000 imposed on the Noticee for violation of Regulation 4(2)(t) of the PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 200
- Reg. 4(2)(t)
Parties
- ABDL
Holding
The Noticee illegally mobilized funds through an unregistered collective investment scheme in violation of Regulation 4(2)(t) of the PFUTP Regulations and is liable to penalty under Section 15HA of the SEBI Act. A monetary penalty of Rs. 25,00,000 was imposed on the Noticee.
Full text
Page 2 of 5 15HA of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”), for the alleged violation of Reg. 4(2)(t) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations 2003 (hereinafter referred to as "PFUTP Regulations").
Page 3 of 5 on any collective investment scheme and has violated Reg. 4(2)(t) of the PFUTP Regulations which states as under:
Page 4 of 5 15HA. If any person indulges in fraudulent and unfair trade practices relating to securities, he shall be liable to a penalty which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of such practices, whichever is higher.
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Source: SecMarx — sebi:EAD-6/PM-AB/47/2018-19. 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.