sebi:IVD/MLL/AO/DRK/ASG/EAD3/135-2009/37-2010
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Facts / Headnote
No penalty imposed; allegation not established; matter disposed of accordingly
Provisions invoked
- s. 15A
- s. 15
- s. 11C
- s. 12
- s. 11C(3)
Parties
- Symphony Holdings Ltd.
Holding
The noticee complied with the summonses issued under Section 11C(3) of the SEBI Act and the allegation of failure to furnish information was not established, so no penalty under Section 15A(a) was levied.
Full text
Page 2 of 7 overseas Corporate Bodies who had received major credits on account of GDR conversions, having received a credit of 1,05,00,000 shares.
Page 3 of 7 Section 11C (3) of the SEBI Act. It was alleged that non-furnishing of information by the noticee had seriously affected the investigation proceedings. It was alleged that the above mentioned actions on the part of the noticee amounted to violation of Sections 11C (2) read with Section 11C(3) of the SEBI Act, 1992.
Page 4 of 7 10. The above violations attract penalty under Section 15A(a) of the SEBI Act which states that: “15A. Penalty for failure to furnish information, return, etc.- If any person, who is required under this Act or any rules or regulations made thereunder,-
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Source: SecMarx — sebi:IVD/MLL/AO/DRK/ASG/EAD3/135-2009/37-2010. 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.