sebi:IVD-ID5/ADPL-CSC/AO/DRK-AKS/EAD3-587/131-2014
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Facts / Headnote
Violation found; penalty of Rs 3,00,000 imposed ex-parte
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
Parties
- Shri C Shah Champaklal
Holding
The noticee violated Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (e) of the PFUTP Regulations in the scrip of Aarey Drugs and Pharmaceuticals Ltd. by executing synchronised trades as part of a connected group, and a penalty of Rs 3,00,000 under Section 15HA of the SEBI Act was imposed ex-parte.
Full text
Page 2 of 13 Aarey Drugs and Pharmaceuticals Ltd. Pre Investigation Period (1.10.2008 – 31.12.2008) Open (1.10.2008) 44.7 High 44.7 (1.10.2008) Low 15.15 (5.12.2008) Close (31.12.2008) 17.6
Page 3 of 13 (hereinafter referred to as ‘PFUTP Regulations’) alleged to have been committed by Shri C Shah Champaklal (hereinafter referred to as ‘noticee’) and the same was communicated vide proceedings of the Whole Time Member appointing Adjudicating Officer dated 12.04.2013.
Page 4 of 13 5. From the records it is noted that the noticee has neither replied to the SCN nor attended any of the personal hearings granted to him inspite of service of SCN and hearing notices as stated above. In light of this fact, I am convinced that the Principles of Natural Justice have been complied with and I am compelled to pass an ex-parte order against the noticee based on the material made available on record. CONSIDERATION OF EVIDENCE AND FINDINGS
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Source: SecMarx — sebi:IVD-ID5/ADPL-CSC/AO/DRK-AKS/EAD3-587/131-2014. 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.