sebi:IVD-ID2/ESL/AO/DRK/SS/EAD-3/121-09/23-10
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Facts / Headnote
Penalty imposed on the noticee for failure to furnish information as required by summons
Provisions invoked
- s. 15A
- s. 15
- s. 11(3)
- s. 12
- s. 15J
- s. 11C(3)
Parties
- Elbee Services Limited (ESL)
Holding
The noticee, Elbee Services Limited, violated Section 11(3) read with Section 11C(3) of the SEBI Act by failing to furnish information sought through summons dated July 28, 2003. A penalty of Rs.6,00,000/- was imposed under Section 15A(a) of the SEBI Act.
Full text
Page 2 of 8 3. The scrip of ESL witnessed a sharp rise from the period February 15, 2000 to February 24, 2000. The closing price rose from Rs.195.20/- to Rs.306.65/-. However, the other scrips in the courier industry also witnessed sharp increase during this period.
Page 3 of 8 registered address at 75, Nehru Road, Vile Parle (E) Mumbai – 400099, through Registered Post Acknowledgment Due (RPAD) in terms of the provision of Rule 4(1) of the Adjudication Rules, seeking reply of the noticee as to why an inquiry should not be held against it in respect of the violation alleged to have been committed by the noticee.
Page 4 of 8 However, neither was any new address provided by NSDL/CDSL nor was it available on the websites. Thereafter, a helpline was called on January 06, 2010 and the address for the Company was asked. The helpline provided the address of Elbee Centre at 385, Cardinal Gracias Road, Chakala, Andheri East, Opp. Samraj Hotel, Near Cigarette Factory, Mumbai - 400069. Subsequently, a copy of the SCN was sent on January 07, 2010 by courier to the above address of Elbee Centre as provided by the helpline. The SCN was delivered.
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Source: SecMarx — sebi:IVD-ID2/ESL/AO/DRK/SS/EAD-3/121-09/23-10. 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.