sebi:EAD-9/SM/209/2018-19
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Facts / Headnote
Abated - SCN disposed of without going into merits
Provisions invoked
- s. 15H
Holding
The adjudication proceedings against the Noticee abate upon his death on September 18, 2016. The SCN dated March 20, 2014 is accordingly disposed of without going into the merits of the case.
Full text
In the matter of M/s Front Running of HDFC ACM Trades II Page 2 of 3 SHOW CAUSE NOTICE, REPLY AND HEARING 3. Based on the findings by SEBI, Show Cause Notice dated March 20, 2014 (hereinafter referred to as ‘SCN”) was issued to the Noticee under rule 4 of the Rules to show cause as to why an inquiry should not be initiated against the Noticee and penalty not be imposed upon it under Section 15HA of SEBI Act for the alleged Violations.
In the matter of M/s Front Running of HDFC ACM Trades II Page 3 of 3 9. In terms of Rule 6 of the AO Rules, a copy of this order is being sent to Maitri Shah and also to the Securities and Exchange Board of India.
4. The Noticee, vide letter dated September 18, 2014 replied to the SCN. In order to comply with the principles of natural justice an opportunity of personal hearing was given to the Noticee on January 11, 2018 vide notice dated November 22, 2017. The undersigned received a letter on December 8, 2017 from one Maitri Shah informing that the Noticee had passed away on September 18, 2016. An attested copy of the death certificate in this respect was attached with the letter.
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Source: SecMarx — sebi:EAD-9/SM/209/2018-19. 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.