sebi:IVD/PGL/AO/DRK/ASG/EAD3-77/2009
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Facts / Headnote
No penalty imposed; allegation not established; matter disposed of
Provisions invoked
- s. 15A
- s. 15
- s. 11C
- s. 12
Parties
- Tut Oil and Investments Ltd.
Holding
The noticee was held to have complied with the three summonses dated January 25, 2008, February 14, 2008 and February 26, 2008 issued under Section 11C(3) of the SEBI Act, so violation of Sections 11C(2)/11C(3) was not established and no penalty under Section 15A(a) was imposed.
Full text
Page 2 of 6 credits on account of GDR conversions, having received a credit of 4,00,00,000 shares. According to the details furnished to SEBI by NSE the noticee was one of the major sellers of the converted shares during the investigation period.
Page 3 of 6 information by the noticee had adversely 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), 11C(3) of the SEBI Act, 1992.
Page 4 of 6 person associated with the securities market to preserve and to produce to the Investigating Authority or any person authorised by it in this behalf, all the books, registers, other documents and record of, or relating to, the company or, as the case may be, of or relating to, the intermediary or such person, which are in their custody or power.
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Source: SecMarx — sebi:IVD/PGL/AO/DRK/ASG/EAD3-77/2009. 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.