sebi:IVD/DEL/VBD/AO/DRK/AS/EAD-3/167/09-70/2010
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 the noticee for violation of Section 11(C)(2) read with Section 11(C)(3) of the SEBI Act, 1992
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 15J
- s. 12
Parties
- M/s Vijay Bhagwandas & Co. (erstwhile M/s Bhagwandas Bhogilal & Co)
Holding
The noticee violated Section 11(C)(2) read with Section 11(C)(3) of the SEBI Act, 1992 by furnishing false information to the Investigating Authority and failing to furnish information as undertaken during deposition, and a penalty of Rs. 5,00,000 was imposed under Section 15A(a) of the SEBI Act, 1992.
Full text
Page 2 of 7 APPOINTMENT OF ADJUDICATING OFFICER 3. I was appointed as the Adjudicating Officer, (subsequent to the transfer of Shri Biju S) vide order dated December 10, 2008 under section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as SEBI Act) read with Rule 3 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge under Section 15A (a) of the SEBI Act, 1992 the violations of the provisions of Section 11(C)(2) read with Section 11(C)(3) of Securities and Exchange Board of India Act, 1992 alleged to have been committed by the noticee in respect of its dealings in the scrip of DEL.
Page 3 of 7 However, the notice failed to appear for the hearing and make its submissions without furnishing any reasons.
Page 4 of 7 held/were holding directorship. When questioned during the statement recoding on June 21, 2005 Mr. Vishal Shah (Authorised Representative) on behalf of the noticee replied:
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:IVD/DEL/VBD/AO/DRK/AS/EAD-3/167/09-70/2010. 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.