sebi:IVD-ID5/ADPL-VNS/AO/DRK-AKS/EAD3-533/77-2014
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Facts / Headnote
Adjudication proceedings disposed of; alleged violations not established
Provisions invoked
- s. 15
Regulations
- Reg. 3
Parties
- Ms. Varshaben Navinbhai Soni
Holding
The Adjudicating Officer held that the alleged violations of Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of the PFUTP Regulations, 2003 were difficult to establish against Ms. Varshaben Navinbhai Soni, and accordingly disposed of the adjudication proceedings without imposing any penalty.
Full text
Investigation Period (1.1.2009 – 31.8.2009) Open (1.1.2009) ` 18.35 High ` 52.3 (18.8.2009) Low ` 15 (22.1.2009) Close (31.8.2009) ` 45.1 Average Volume 55174
4. In the absence of any reply from the noticee, a hearing notice dated 05.11.2013 was served on the noticee granting her an opportunity of hearing on 26.11.2013 at 12:00 noon at SEBI Bhavan, Mumbai. Further the noticee was advised to submit a reply to the SCN on or before 20.11.2013. Proof of service is on record. However, the noticee failed to attend the hearing without providing any reason. Noticee was provided with a final opportunity of hearing vide hearing notice dated 23.12.2013 to appear on 06.01.2014 at 11:30 am at SEBI Bhavan, Mumbai. However, the said hearing notice came back undelivered.
"...This Tribunal has taken a consistent view that a few instances of self trades in themselves would not ipso facto, amount to an objectionable trades.."
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Source: SecMarx — sebi:IVD-ID5/ADPL-VNS/AO/DRK-AKS/EAD3-533/77-2014. 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.