sebi:IVD-ID5/WTIL-RAS/AO/DRK-AKS/EAD3-534/78-2014

SEBI · SEBI · 2013-04-12 · D. Ravi Kumar, Chief General Manager & Adjudicating Officer

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Facts / Headnote

Proceedings disposed of - violation not established, no penalty imposed

Provisions invoked

• s. 15

Regulations

• Reg. 3

Parties

• Shri Ritesh Ashokkumar Shah

Holding

The adjudication proceedings against Shri Ritesh Ashokkumar Shah for alleged self-trades in the scrip of WTIL were disposed of ex-parte as violation of Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of the PFUTP Regulations, 2003 was not established.

Full text

Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under Section 15 HA of the SEBI Act the violations of Regulations 3 (a), (b), (c), (d), 4 (1), 4 (2) (a) and (g) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’) alleged to have been committed by Shri Ritesh Ashokkumar Shah (hereinafter referred to as ‘noticee’) and the same was communicated vide proceedings of the Whole Time Member appointing Adjudicating Officer dated 12.04.2013.

stated above. It is noted that the proof of service of the notices are on record. In the 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

(Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 is difficult to establish against Shri Ritesh Ashokkumar Shah in the present adjudication proceedings and accordingly the present adjudication proceedings is disposed of.

Source: SecMarx — sebi:IVD-ID5/WTIL-RAS/AO/DRK-AKS/EAD3-534/78-2014. 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.